Engineering business IPM Group has acquired Singapore-based Celt-tech Marine & Offshore Ltd (CTM).
Having already completed over 16,000 projects worldwide already, and with plans to double its £27 million turnover in the next five years, IPM’s latest acquisition bolsters its growing international offering across the UK, Europe, UAE, and Japan.
The new acquisition in Asia will welcome all 15 members of the CTM team to newly formed IPM Group, and bolster IPM’s ability to service the marine and offshore sectors.
Randall Smith, Chief Executive Officer of IPM Group, headquartered in Barry, said:
“The team in Singapore continues to deliver the high-quality outcomes and consistent successes that complement the IPM Group. Our longstanding partnership with Celt-tech made it the clear and strategic choice to expand our footprint in Asia.”
Chris Lewis, Chief Operating Officer of IPM Group, added:
“I have absolute confidence in the teams on the ground, and in our shared commitment to delivering what we do best, which is leveraging local expertise and deep insights to shape smarter, safer, and more sustainable solutions for clients around the globe.”
Celt-tech Marine & Offshore Ltd is headed up by Managing Director Craig Didio, and Operations Director, Thomas Davies. Founded in 2020, CTM’s expertise lies in shipbuilding, vessel repairs, upgrades, and conversion projects worldwide. CTM offers a comprehensive range of services, including engineering design, piping systems from carbon steel to exotic materials, structural fabrication, and electrical & instrumentation (E&I).
Craig said:
“As a company we have worked with the IPM Group team for several years now, and when the opportunity and discussions developed around this partnership, it was something we jumped at positively. Our values absolutely align with those of IPM as we strive to provide the most effective, and sustainable solutions that benefit both project needs and the environment.”
Thomas added:
“We will continue to offer new and existing clients the broad range of services we offer including bespoke design and fabrication, turnkey projects, installation, and maintenance support but as a wider group, we’ll now be looking to enhance that portfolio of expertise by sharing our knowledge and opportunities with each other.”
Situated within Tuas, the main marine and industrial sector within Singapore, the new IPM Group’s office is well-positioned within a 9km radius of established marine and construction yards such as Seatrium, Hanwha Offshore, and Pax Ocean.
As part of the Group’s strategy, Singapore will lead on some of the key technological investments. Considerable investment into new processes is being implemented across the Group, and among these will be new bespoke software for streamlined operations regarding asset management and new technology related to tube manipulation and welding overlay processes.
IPM Group offers a comprehensive suite of engineering and project delivery services, enabling clients to access specialist support across the full lifecycle of complex infrastructure, industrial, and maritime assets.
