03 Oct 2013
ICON advises Tynemarch Holdings and its subsidiary Tynemarch Systems, a technology led consultancy to the water and environmental management industries on its sale to Singapore based, CSE Global.
CSE Global Ltd, through its wholly owned UK subsidiary CSE (UK), is continuing its expansion through the acquisition of Tynemarch Holdings Ltd and its subsidiary Tynemarch Systems Engineering Ltd, a technology-led consultancy to the water and environmental management industries.
Tynemarch, employing over 30 staff and operating from offices in Dorking, Surrey, provides a wide range of software development and consultancy services including asset management, water resources and supply optimisation, leakage management and water industry research. Tynemarch's business will provide a base for CSE (UK) Group to further expand its existing activities within the water and environmental management sectors.
Tynemarch has a strong presence within a number of the UK's water companies and is looking to expand its sphere of operation into the Oil & Gas markets and is therefore a close strategic fit with the CSE (UK) Group as well as other CSE Global Group companies. CSE (UK) annualised turnover exceeds £45 million and the acquisition of Tynemarch will increase thisby a further 5%. The expanded business will provide increased capability to target further growth and expansion whilst enhancing customer offerings.
CSE (UK), which currently employees over 400 people, is a member of the Singapore based CSE Global Limited and is responsible for representing and managing CSE's activities in Europe, the Middle East and Africa.
Alan Stubbs, Group Chief Executive Officer for CSE-Global Ltd, said "I am delighted that Tynemarch has agreed to join the CSE (UK) Group of companies, Tynemarch will become a key part of CSE's expansion and we intend to invest further and grow the business providing career development opportunities in the United Kingdom and other parts of the world where CSE operates".
CSE Global Limited is an international technology group listed on the Singapore Stock Exchange. Over the last decade, CSE has transformed itself to be a truly global organisation with over 1700 employees worldwide. The CSE group of companies has been very successful in offering cost effective, totally integrated solutions to industries in the Automation, Telecommunications, Healthcare and Environmental Sectors.
Lawyers were Clyde & Co.