UK-based engineering firm IPM Group has acquired Singapore’s Celt-tech Marine & Offshore Ltd (CTM) as part of its strategy to expand its international portfolio. This acquisition, announced today, will integrate CTM’s 15-member team into IPM Group, strengthening its service offerings in the marine and offshore sectors across Asia.
Randall Smith, CEO of IPM Group, highlighted the strategic nature of the acquisition, stating, “The team in Singapore continues to deliver the high-quality outcomes and consistent successes that complement the IPM Group.” The acquisition aligns with IPM’s ambitious plans to double its £27m turnover within five years, leveraging CTM’s expertise in shipbuilding, vessel repairs, and engineering design.
Chris Lewis, COO of IPM Group, expressed confidence in the collaboration, noting the shared commitment to delivering sustainable solutions globally. CTM, founded in 2020 and led by Managing Director Craig Didio and Operations Director Thomas Davies, offers a comprehensive range of services, including structural fabrication and electrical & instrumentation.
The new IPM Group office in Tuas, Singapore, is strategically located near major marine and construction yards, positioning it well for future growth.
As part of its strategic initiatives, IPM Group plans to invest in new technologies, including bespoke software for asset management and advanced welding processes, further enhancing its capabilities in the region.
