AN engineering firm has bought a family-run equipment supplier to extend its market presence.

Teescraft Engineering Limited has taken on LH Quarry Plant Limited for an undisclosed sum.

Bosses say the deal includes Baxter Crushers Limited, and came after majority shareholders, brothers Nick and Phil Caswell, sought retirement and a new buyer for the company, which was founded by their father Laurie.

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They added around 40 jobs have been secured in the deal for the firm, which is based in Thornaby, near Stockton, and is known for spare parts and consultancy services to the quarrying, recycling, demolition and dredging industries around the world.

Under the terms of the agreement, David Green and Andrew Evans, who have worked at LH Quarry Plant for more than 30 years, will stay on as part of a new management structure.

Rob Yorke, managing director at Bishop Auckland-based Teescraft, which is known for supplying machined parts to the automotive and energy sectors, said the deal will help the business diversify and take on larger contracts.

He said: “LH Quarry Plant has a history of building on success to expand, meeting new industry challenges head on and investing heavily to improve efficiency and meet customer demand.

“We envisage a truly great future for the group.”

Teescraft, which also works out of Stockton, was advised on the takeover by Durham City law firm Swinburne Maddison.

The deal was led by partner Martyn Tennant, head of the company’s corporate and commercial department.

He said: “This deal is a clear indication that experienced mergers and acquisitions services are available in County Durham.

“We hope this is the first of many instructions from Teescraft.”

Gary Ellis and Angus Allan, partners at chartered accountancy and business advisory firm Clive Owen, acted on behalf of Teescraft. 

BHP Law acted for LH Quarry Plant’s shareholders.