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Advantica sold
Posted on 09/09/07
P. Klein
Loughborough company Advantica, which is based at Holywell Park of New Ashby Road has been bought by a German engineering consultancy Germanischer Lloyd. Advantica was previously owned by National Grid plc and has 660 employees. Germanischer Lloyds business roots are in the maritime sector. Advantica provides a wide range of valuable skills, adjunct market opportunities and complementary offerings to enable faster growth of this business across a wider market. Similarly, Germanischer Lloyds established presence in continental Europe, the Middle East and the Far East provide a substantial catalyst for the development of Advanticas offerings in these geographies.
The purchase of Advantica will see Lloyds turnover in the gas and oil industry double and it will substantially increase the strength of its market share in a variety of areas including the US and Middle East.
Talking about the new ownership of the Loughborough based company, Brian Gunn, Chief Executive Officer of Advantica said "The successful completion of this deal represents a truly excellent outcome for both Advantica and Germanischer Lloyd. We are excited about the opportunities this presents the company, and its staff, clients and suppliers worldwide.
On a press release on Advanticas website it said that it was business as usual and none of the staff employed were at risk. Indeed the current management were invited to remain in place.
One hundred and sixty three acres of the Advantica estate in Loughborough was sold to Loughborough University in 2003 for approximately 35M. This substantially increased the size of the Loughborough campus which was then 223 acres and has allowed expansion for a number of departments, although there were some caveats that prevented students accesing some of the areas.
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