IT company eyes new acquisitions after buying neighbour

The SIA deal, which was completed for an undisclosed sum last week, increases the IT group's control business in the oil and gas, power and nuclear industries.

CSE-Global will be looking further afield to the Middle East and has been discussing opportunities in that region with the Duke of York, the UK trade ambassador who visited the business earlier this month.

Alan Stubbs, the managing director, said the company is looking for possible acquisitions in Saudi Arabia, Oman, Qatar and Abu Dhabi. He added: "The link with the Duke of York was to look at helping us acquire a business in the Middle East. He was keen to help us expand overseas."

CSE-Global bought SIA after realising its client base in the UK and Middle East offered good growth potential. CSE-Global's UK control business was generating turnover of 14m a year, which combined with SIA's has now risen to 23m.

Mr Stubbs said: "The plan for the business going forward is we have to look at how to maximise the synergies between SIA and CSE-Global.

"We are looking to round turnover up to 25m as quickly as we can, probably by the end of 2010. We are looking to bolster that by acquisition in the Middle East."

He will have access to the 17.5m warchest raised by the Singaporean parent company on the local stock exchange to fund more acquisitions.

Mr Stubbs added: "We are trying to really grow the business in South Yorkshire and we are being very successful in our acquisitions."

SIA, which employs around 50 staff in Sheffield and Aberdeen, provides engineering and construction services including conceptual design, systems implementation, panel manufacture and factory testing through to installation, commissioning and post handover activities.

CSE Global's UK turnover is 34m, which is set to increase by 25 per cent following the SIA acquisition. It employs nearly 400 people. Mr Stubbs said he is not planning any redundancies: "We are looking to grow, not retrench."