Steel piles supplier PPS bought by MBO

Aaron Morby 9 years ago
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Fife-based Pipe and Piling Supplies has been bought by a management buyout team led by existing managing director, Alistair Cochrane, for an undisclosed sum.

PPS manufactures steel foundation piles and overhead structures for infrastructure customers including Network Rail and Balfour Beatty.

Since joining the business seven years ago, Cochrane’s focus on expansion has taken the supplier from a turnover of £1.59m to £8m in 2014 and now a forecast £20m in sales this current financial year.

The funding provided by Clydesdale Bank will enable PPS, which supports about 70 jobs across the country, including up to 30 at a fabrication plant in Bridlington, North Yorkshire, to target further growth in rail infrastructure.

PPS is involved in the Great Western Electrification Programme where it has secured a £20m framework agreement with the project which it is seeking to extend.

The firm is also under contract to the Northern Hub project, which will improve travel on key routes across the north of England.

Other recent projects include London’s new Canary Wharf Crossrail Station. Built in 10m deep dock water, the site required a specially constructed cofferdam for which PPS supplied the anchor piles.

PPS

Alistair Cochrane, managing director at PPS, said: “We are thrilled to have secured the support of Clydesdale Bank, which has a first class track record in growing SMEs.

“Investment in Britain’s railway network and other infrastructure projects has provided PPS with a great opportunity to grow. Our new management team is working hand in hand with Clydesdale Bank to take advantage of the exciting opportunities in the marketplace and deliver further expansion. We also have ambitious plans to strengthen the business including a new health and safety initiative which we will showcase next year.”

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