HDO acquires Davy Markham

Davy Markham, the Sheffield-based heavy-engineering concern (Tel: 0114 244 9971), has been acquired by the Indian engineering procurement and construction company Hindustan Dorr Oliver Ltd, which is a subsidiary of IVRCL Infrastructures & Projects Ltd. Managing director Kevin Parkin and financial director Duncan Hay will continue in their current roles.

HDO sees this acquisition as a platform for expanding into new sectors, using Davy Markham’s corporate credentials and engineering expertise. It intends to invest strategically in new plant and equipment at the Darnall works and to continue Davy Markham’s successful apprentice training scheme. It will also extend Davy Markham’s sales and marketing infrastructure, in order to tap into opportunities in India.

Mr Parkin (pictured with IVRCL vice-chairman and managing director E Sudhir Reddy) said: “This is great news for Davy Markham’s customers, employees and suppliers, since HDO — along with its parent — is financially very strong, and very growth-orientated; it dedicates itself to continuous improvement in all fields of its business.

“There are considerable synergies between ourselves and HDO, while IVRCL’s commercial aspirations in markets like nuclear energy match ours perfectly.”