Pothole specialist Velocity gets new owner

19/04/2012 | HIGHWAYS REPORTERS

Pothole repair specialist Velocity has been taken over by Pearson Engineering.

The Reece Group, parent company of Newcastle-based Pearson, bought 50% of Velocity for an undisclosed seven-figure sum last year.

It has now snapped up the remaining half of the £7m turnover Velocity.

John Reece (pictured right), chairman of Reece Group, said: “We acquired 50% of Velocity last summer with a view to acquiring the remaining 50% later.

“In the meantime, our subsidiary, Pearson Engineering Services, has worked closely with the Velocity manufacturing team to make the production process ready for larger volumes.

“There is potential for significant overseas expansion. There are potholes in roads all over the world and the Velocity vehicles provide an excellent solution, particularly at a time when there is pressure on public expenditure.”

The Velocity machines can patch up to 150 potholes per day and are exported worldwide. Reece now aims to team up with partners or franchisees abroad who have specialist knowledge of their markets.

Reece Group finance director Phil Kite said: “Velocity already has vehicles in production in South Africa and the Gulf, with interest from other countries. However, in order to fulfil the potential for expansion of the overseas business, significant further funding is required.

“Therefore, it made sense for Reece Group to take full ownership and make the further investment required.”

He said that Velocity’s former owner Richard Jackson (pictured left) would continue to be involved with the business.

Velocity originally linked up with Pearson last year because it was struggling to meet demand and also wanted to take advantage of the research and development capability of the larger business.

 

Highways InProfile

latest magazine issue
Highways jobs

Head of Highways Contracts & Network

£81,803 progressing to £90,664 per annum
This role is fundamental to the success of the Highways Service. Hertfordshire
Recruiter: Hertfordshire County Council

Senior Civil Engineer - Major Projects x 4

£45,894.00 - £54,952.00
We are looking for experienced engineers to help us progress a number of key projects and programmes Glasgow, Glasgow City
Recruiter: Transport Scotland

Technician - Maintenance

£31001.0000 - £36471.0000 per annum
Essex Highways is responsible for managing and maintaining one of the largest highway networks in the country
Recruiter: Essex County Council

Highways Contract Engineer

£46,731 - £49,764
The team helps provide a safe road network that operates efficiently and effectively.  Northamptonshire
Recruiter: North Northamptonshire Council

Principal Transport Planner

£46,731 - £49,764 (pro-rata)
We are looking for an experienced professional to join us on a six-month temporary contact as a Principal Transport Planner. Kettering, Northamptonshire
Recruiter: North Northamptonshire Council

Highways Maintenance Operative

£Competitive
We have a fantastic opportunity for a Permanent Highways Maintenance Operative Broughton, Brigg
Recruiter: Amey

Head of Highways Contracts & Network

£81,803 progressing to £90,664 per annum
The team includes approximately 60 directly employed HCC people Hertfordshire
Recruiter: Hertfordshire County Council

Principal Construction Manager

£Competitive
We are excited to offer a fantastic opportunity for a Permanent Principal Construction Manager Yorkshire and the Humber
Recruiter: Amey

Quality Technician

£Competitive
We are excited to offer a fantastic opportunity for a Permanent Quality Technician Yorkshire and the Humber
Recruiter: Amey

Senior Highway Engineer (Development Management)

£42679.0000 - £50211.0000 per annum
Senior Highway Engineer (Development Management)Permanent, Full Time£43,960 to £51,718 per annum*Location
Recruiter: Essex County Council

Project Manager (Major Projects)

£44,711 - £47,754
Are you an experienced project professional or engineer with looking to take the next step in your career? Halifax, West Yorkshire
Recruiter: Calderdale Metropolitan Borough Council

Senior Civil Engineer - Roads

£45,894 - £54,952
Are you an experienced engineer looking to support the Scottish Government’s national objectives. Scotland
Recruiter: Transport Scotland

Project Team Manager

£55,147 to £60,676 per annum
We are pleased to be able to offer an opportunity for a role as Design Team Manager Norwich, Norfolk
Recruiter: Norfolk County Council

Clerk of Works

GRADE 08 (£37,938 - £41,511)
Warrington is one of the most successful towns in the country Warrington, Cheshire
Recruiter: Warrington Borough Council

Assistant Projects Engineer

GRADE 06 (£29,093 - £32,654),GRADE 07 (£33,366 - £37,035), GRADE 08 (£37,938 - £41,511)
Warrington is one of the most successful towns in the country Warrington, Cheshire
Recruiter: Warrington Borough Council

Principal Engineer - Traffic Management

£45,718 - £48,710 per annum
At Bath & North East Somerset Council we have one overriding purpose – to improve people’s lives. Bath, Somerset
Recruiter: Bath & North East Somerset Council

Vehicle Technician - Improver

£28,624 - £30,060
Transport Services is responsible for all aspects of transport and related services Huddersfield, West Yorkshire
Recruiter: Kirklees Metropolitan Council

Programme Delivery Office Administrator

Grade 9 £31,344 - £33,253 per annum
At Derbyshire, we have been on a journey to transform the way we deliver highway services to make them fit for the future Derbyshire
Recruiter: Derbyshire County Council

Support Officer - Highways Asset Management Systems

£31,586 - £34,314
We are a forward-thinking organisation dedicated to maintaining and improving our highway infrastructure. Lincolnshire
Recruiter: Lincolnshire County Council

Principal Transport Planner (Strategy)

£46,731-£49,764
We are looking for an experienced professional to join North Northamptonshire Council as a Principal Transport Planner (Strategy). Sheerness House, 41 Meadow Road, Kettering moving to Haylock House, Kettering Parkway, Kettering NN15 6EY, United Kingdom
Recruiter: North Northamptonshire Council
SUBSCRIBE NOW

Latest Video

Subscribe to Highways today to ensure you keep your finger on the pulse of everything happening in the UK road network throughout the year.

SUBSCRIBE NOW