Major investment will support next phase of growth for SCX Special Projects
The acquisition and investment in world-renowned Sheffield-based engineering specialist SCX Special Projects, was announced this week, February 4.
Elysian Capital II LP, in conjunction with management, has acquired and invested in SCX Special Projects Holdings Ltd (SCX Special Projects). This represents the eighth platform investment in the Elysian Capital II LP Fund which closed in July 2015 at GBP£250m.
Based in Wincobank, Sheffield, SCX Special Projects (www.scxspecialprojects.co.uk) is a specialist engineering company providing design and engineering for complex lifting and materials handling and kinetic architecture projects.
Founded in 1992, the company built a reputation for providing high quality solutions for materials handling including bespoke cranes for the Royal Navy and the nuclear energy sector. Safety and reliability are critical in these demanding and challenging environments.
Using their expertise from these lifting projects, SCX Special Projects solved challenges for moving structures and completed the design and supply of the All England Lawn Tennis Club’s Centre Court roof at Wimbledon in 2005.
More recently, it has delivered the roof for Number One Court and the world’s first retractable pitch at Premier League club Tottenham Hotspur’s new multi-million pound stadium.
A strong pipeline of projects exists and, having been predominantly a UK market focused business, SCX Special Projects is now reviewing a significant number of potential overseas opportunities.
CEO Andy Whitworth said:
We are very excited about the next phase of SCX Special Projects. Our growing reputation, helped by recent high-profile projects, has generated significant enquiries especially from overseas, a market we have only recently started to develop.
The support of Elysian Capital will allow us to take advantage of the international opportunities that we are now seeing.
Simon Eastwood, retiring chairman of SCX Special Projects, said:
Having worked with Andy since 1992 and seen the development of SCX into a world-leading materials handling and kinetic architecture business, I am delighted to have found a partner who can help take the business to the next level and, as a continuing shareholder, look forward to its future success.
James Cunningham, Partner at Elysian Capital, said:
With its recent flagship kinetic architecture projects at Tottenham and Wimbledon and its longstanding leading position in bespoke materials handling in the nuclear, aerospace and defence markets, SCX Special Projects has demonstrated the quality of its design and engineering work. We are delighted to be working with Andy and his team to take the business forward in the UK and internationally.
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Main image (top): The world’s first retractable pitch at Premier League club Tottenham Hotspur’s new multi-million pound stadium. Image, courtesy: SCX Special Projects
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