The acquisition will enable Glacier Energy to establish a mechanical solutions hub in the North-East of England, supporting the company increase its presence in renewable and industrial markets, including rail. Through expanding the range of heat exchanger repair and refurbishment services, and achieving pull-through from other group companies, Glacier Energy’s ambition is to double the size of the business in just three years.

The acquisition of AGS, which operates from a 26,000 sq ft manufacturing facility in Washington, follows recent investment from Averroes Capital and BGF, supporting Glacier Energy’s growth through both organic development and targeted acquisitions. Glacier Energy demonstrated its commitment to the North-East of England earlier this year, with the acquisition of Francis Brown in Teesside. Francis Brown, which specialises in the design and manufacture of heat transfer equipment, is highly complementary to AGS’s repair and refurbishment offering.

Scott Martin, CEO of Glacier Energy, said: “The acquisition of AGS is a significant milestone for Glacier Energy. The North-East of England offers an ideal environment for our expansion as it is rapidly becoming a centre for renewable and industrial growth.

“This acquisition allows us to build on AGS’s established reputation and develop a robust base to deliver expanded services across industrial and rail markets. We are committed to backing the region’s growth and building on its industrial strengths for the future.”

Philip Riches, managing director of AGS, said: “This acquisition represents an exciting opportunity for AGS, enabling a broader range of mechanical services to be provided to our loyal customer base.

“There is strong cultural and strategic fit between the companies and the acquisition will set AGS on a strong path to continue supporting the industrial and rail markets it serves with renewed focus and commitment.”