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SME Capital funds Leviathan Engineering’s acquisition of the Nicol and Andrew Group, a specialist mechanical engineering services group.

SME Capital is delighted to be supporting another acquisition for Leviathan Engineering (Leviathan) who have recently acquired a range of specialist mechanical engineering businesses, Nicol and Andrew Group.

Founded in 1952 and head quartered in Buckinghamshire, Nicol & Andrew were the first company of its kind to carry out in-situ machining and repairs on marine propulsion units such as diesel engines.

Their core business comprises of in-situ engineering technicians who travel the world carrying out emergency repairs to damaged main engines, crankshafts, tail shafts, propeller shafts and associated marine/power/defence equipment. 

Over the last 70 years, they have built a solid reputation for very rapid response times and total dedication to getting their customers equipment back in running order in the minimum possible time. 

The group consist of 3 business and 4 divisions which include worldwide in-situ machining services, hydraulic cylinder/ram repair and replacement, metal spraying and cylindrical grinding services and a specialist machine shop.

This acquisition follows Leviathan’s recent acquisition of UK Precision based in Exeter. 
Headquartered out of Bristol, Leviathan continues to focus on premium value and growth sectors where various engineering services can be shared to address larger, more technical projects for its blue chip client base.

SME Capital have agreed to provide a bespoke 5-year term facility to support the acquisition. 

Leviathan Engineering - SME Capital

Leviathan CEO, Glenn Karlsson said: "We are delighted to secure further support for our third acquisition from our funding partners SME Capital on our journey to develop the UK’s fastest growing sub contract engineering group.“

Leviathan CFO David Sneddon added: “The Nicol & Andrew Group acquisition adds further synergistic capabilities to our group allowing us to serve our customers with a wider range of engineering services."

Colin James, Head of Origination at SME Capital, said: "This is a great complimentary acquisition by Leviathan Group which brings further expertise into their core defence and energy markets. Under the leadership of Glenn and and the broader Leviathan team, this acquisition further strengthens the groups growth journey."

Leviathan CEO Glenn Karlsson and CFO David Sneddon are closely supported by Leviathan’s two extremely experienced engineering and manufacturing experts in Barry Debenham and Kevin Parkin.

The team will be developing plans over the coming months to further expand the unique services and capabilities of the company including synergy to the wider group.

Rachael Reeves, Louisa Leach, Richard Wilkey at Harrison Clark Rickerbys Ltd, and Martyn Gregory, Lizzie Hill, Corrian Field at Deloitte supported the acquisition.
The Nicol & Andrew Group is Leviathan’s third acquisition (now totalling 5 companies, 6 divisions) in just over 18 months within the subcontract engineering sector where the strategy of a rapid buy and build program to create a wider, integrated, high growth engineering group headquartered in Bristol is in full force.

Leviathan continues to focus on premium value and growth sectors where various engineering services can be shared to address larger, more technical projects.

If you would like to discuss acquisition finance in more detail or our wider funding capabilities do get in touch.

About SME Capital

SME Capital was founded to support the growing number of SMEs who face difficulty or frustration in accessing capital through traditional methods. We understand the importance of real and trusted relationships in the SME lending market and have dedicated Regional Directors based across the UK. By combining traditional lending expertise with the latest in data analytics, we are supporting established UK SMEs with their long-term objectives and business ambitions.

June 2023

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