Severn Glocon Group has recently announced a new multi-million pound investment from Blue Water Energy. The deal, which is subject to certain conditions, sees team member Colin Findlay take on the role of new CEO who will lead the implementation of a plan for expansion and who will focus on new product developments.
Severn Glocon is one of the biggest manufacturers of control valves for the oil and gas industry, and employs over 900 staff worldwide including 370 in the UK. The independent UK-based company, with manufacturing locations in Gloucestershire, Yorkshire and Chennai and service operations globally, now has a fully-funded growth plan that will build on its proud heritage and customer and supplier base to take quality and reliability to the next level.
Severn Glocon founder Maurice Critchley steps into a non-executive director role and remains as an investor in the company, alongside Blue Water Energy. As well as knowledge of the industry, Blue Water Energy will provide capital for the 5 year growth plan – allowing Severn Glocon to move forward with a positive balance sheet and ample financial support.
Christopher Powell continues in his role as Chairman.
Blue Water Energy Director Salil Oberoi said: “We are excited to work with Colin Findlay and his team as we embark on the next chapter of the Severn Glocon story. Blue Water Energy brings a wealth of experience in growing energy related companies, and we share the same ambitious growth plans for Severn Glocon that Colin and his team have.”
Image credit: Severn Glocon Group