Davy Markham sold to Indian giant HDO

The Sheffield-based business, which was taken over by turnaround specialist Endless in 2007, has been bought by Hindustan Dorr Oliver, a subsidiary of IVRCL Infrastructures and Projects.

Davy Markham is a 20m turnover designer and manufacturer of complex heavy engineering components founded 180 years ago. It is headed by managing director Kevin Parkin and financial director Duncan Hay, who will stay on with the current management team.

HDO works in engineered solutions, technologies and EPC installations in liquid-solid separation applications.

Mr Parkin said: "It is great news for DavyMarkham's customers, employees and suppliers, since HDO along with its parent is financially very strong, is very growth orientated and dedicates itself to continuous improvement in all fields of its business.

"There are considerable synergies between ourselves and Hindustan Dorr-Oliver, as also IVRCL group and its commercial aspirations in markets like nuclear energy match ours perfectly."

Mr Parkin raised hopes of a jobs boost for the region, saying: "We shall certainly need more skilled workers and to train up people to fill important management and production roles, as the business grows."

HDO, a majority owned subsidiary of IVRCL, is based on a 40,000 sq metre site and equipped with an research and development facility certified by the Indian Government. It is exploring business opportunities in oil and gas, power and uranium processing and has announced moves into the nuclear power plant sector.

It has more than 7,500 full-time staff and around 15,000 temporary workers.