3T Energy Group sells off energy insulation business
Square One Law advised leading technology and training organisation, 3T Energy Group, on the sale of the energy insulation side of its business to concentrate on developing new training technologies.
AIS Technical, which is a market-leader in insulation and passive fire protection systems (PFP) for the global offshore, energy, petrochemical and heavy industry sectors, has been acquired by insulation specialists, IPCOM Group.
AIS Technical operates from two sites in North Tyneside, North East England, including a state-of-the-art manufacturing facility where it produces more than 70,000 insulation jacketing systems annually. The highly successful, multi-award-winning business sells in the UK and exports to key energy basins worldwide and has an annual turnover in excess of £5m.
AIS Technical’s manufacturing facility will remain in North Tyneside and all 28 employees will be retained by the IPCOM Group.
Originally set up in May 2007 by entrepreneur Paul Stonebanks, AIS Technical was a division of AIS, which includes highly successful training provider, AIS Training.
In 2018, AIS became part of the 3T Energy Group, which includes advanced simulator developer and manufacturer, Drilling Systems, offshore training firm, Survivex and virtual reality and software specialist, NeutronVR, after receiving private-equity backing from Blue Water Energy.
The Group offers a radically different ‘blended learning’ approach to training by using cutting-edge technology such as simulators, e-learning, virtual reality and integrated software, alongside traditional training, to reduce ‘skills fade’ and increase the competence levels of personnel across the global energy sector.
Kevin Franklin, Chief Executive Officer, at 3T Energy Group, said: “3T Energy Group’s strategic direction is focused very much on developing technology-led training and competence solutions with cutting-edge simulation and training technologies to help the global energy industry work safer, smarter and faster.
“AIS Technical is a world-renowned business but selling lets us focus on our core strength and will allow AIS Technical to flourish under new ownership. We are especially grateful to the dedication and loyalty of the AIS Technical team and wish them every success moving forward.”
Remco Boerefijn, IPCOM Group CEO said: “Acquiring AIS Technical gives us a strong foothold in the energy sector and perfectly complements our existing portfolio of world-leading insulation and PFP products. Furthermore, AIS Technical is our first company in the United Kingdom and we are confident this will open up new commercial opportunities.”
John Hammill, corporate partner at Square One Law, said “Our team is delighted to have advised on the sale of another successful North East manufacturing business. The team at 3T Energy Group have a clear business plan and this disposal will enable them to focus on delivering it”.