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Wed October 30 2024

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Buyout for RIS mechanical unit

14 Feb 12 Rainham Industrial Services has sold its mechanical services division to a management buyout after deciding its growth prospects were limited without infringing on other parts of the group.

The new company, called EFW Mechanical Services Ltd, is owned and led by managing director Andy Rynston. From its headquarters in Rochester, Kent, it specialises in the energy from waste market.

Mr Rynston said: “We are looking forward to establishing ourselves in the energy from waste market and currently have secured contracts with clients at Belvedere, Slough and Maidstone.”

Rainham Industrial Services (RIS) will now focus on its core services of scaffolding & access, insulation, asbestos removal, refractory, industrial cleaning, and grit blasting & coatings.

RIS works predominantly at power stations and is currently under contract at Tilbury, Littlebarford, Aberthaw, Staythorpe, Rocksavage and Dungeness power stations. Recent awards include contracts at Capenhurst, Belvedere, Ellesmere Port and Billingham. 

RIS will support EFW Mechanical Services Ltd throughout 2012 and until the new company has established itself. 

RIS chief executive Tim McCarthy said: “2011 was a very successful year for RIS, with contract wins for multiple blue chip customers, and a turnover of £35m. This move sees our company return to focusing on what we are famed for – providing innovative, multi-disciplined services to our market leading clients.”

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