Stafford-based Spiro-Gills Thermal Products Ltd (www.spiro-gills.com), which makes air-cooled heat exchangers, has been bought from the administrators by Diesel Marine International (DMI) in a deal that saves the jobs of 30 people.

Kevin Woodmansey, commercial director of DMI, said: “We believe that our acquisition of Spiro-Gills will bring a new and positive era to the company, which has undergone something of a turbulent time in recent years.

“At DMI, we have a strong and talented management team, who possess the level of skill and understanding of the market to turn the company around and make it the success it once was.

“In addition, Spiro-Gills has an excellent product offering and some great people, who I know will all be working hard to help achieve our goals of increased stability and future growth.”

Spiro-Gills has been designing and manufacturing bespoke industrial heat exchangers, process coolers, engine coolers and other items for 70 years.

The company’s products are used in a wide range of industrial sectors, including petrochemical plants, power generation, fertiliser and gas production facilities in the UK and across the world.