County Durham-based engineering specialist, Dyer, has established SST Group following a £1.625 million investment from NPIF II – Maven Equity Finance, which is part of the Northern Powerhouse Investment Fund II (“NPIF II”) and the Finance Durham Fund, established by Durham County Council and overseen by Business Durham, both of which are managed by Maven Capital Partners.
The new engineering group is owned and led by the directors of Dyer. As an immediate sign of its intent for growth, the group has acquired Washington-based, Q-Laser and its 30-strong team. It will join Dyer as part of the SST Group.
With the group now fully operational, the investment from NPIF II – Maven Equity Finance will be used to support future organic growth, leveraging the capabilities of both businesses within SST. Dyer has a current turnover of £17 million and Q-Laser £3.3 million.
Listed in the 2025 The Manufacturer Top 100 leaders and innovators in UK manufacturing, Richard Bradley, will be chief executive of SST Group. Adam Leggett, the managing director of Dyer also takes up the position of chief operating officer of SST Group.
Richard Bradley, said: “The group has been created out of the success and momentum of our business, with a vision to bring together regional engineering companies that offer complementary services and share a common commitment to innovation, technology and sustainability.
“Creating SST Group gives us access to greater stability, shared resources and broader opportunities for collaboration and growth. It strengthens our platform for long term investment and helps secure a more sustainable future for the business and our people.
“Smarter Stronger Together are the guiding principles that define how we operate and interact with the world and, as such, was the perfect choice for the name of our new group. Serving as our core DNA, they shape our culture, drive our decision making and unite us in our shared purpose.
“I’m also delighted by the immediate acquisition of Q-Laser, which brings over a decade of expertise in laser cutting, press braking, waterjet cutting and fabrication. The company has a formidable reputation across the North East for precision, quality and service. This acquisition represents a significant step in expanding our regional presence and we are delighted to welcome Q-Laser on board.”
Q-Laser will operate as an individual business within the group – just like Dyer – and will benefit from the shared stability, investment and collaborative opportunities that come with being part of SST Group.
Colin Hewitt, managing director, of Q-Laser, said: “Leading Q-Laser Ltd. has been one of the most rewarding chapters of my professional life. I am incredibly proud of what our team has achieved — from the projects we’ve delivered to the strong relationships we’ve built with our customers and partners. None of it would have been possible without the dedication and passion of the entire Q-Laser team and the trust our customers have placed in us over the past 13 years as an individual company.
“As we join the SST Group family, I feel a deep sense of excitement for what lies ahead. SST shares our commitment to excellence, innovation and customer care. I’m confident this next chapter will unlock even greater opportunities not only for our technology and products, but also for our people.
“While this marks the end of Q-Laser as a standalone company, it’s the beginning of a new journey with even greater potential. I look forward to seeing the legacy we’ve built continue to grow within SST Group.”
Michael Vassallo, Investment Partner at Maven Capital Partners, said: “Maven first backed Dyer in 2019, providing both capital and strategic expertise to accelerate growth and support long-term value creation. We’re delighted to support the newly created SST Group in its ambitious future plans. With an experienced leadership team, a strong company culture and a clear strategic vision, SST Group is well positioned for growth, and the funding injection will help support high quality jobs and strengthen the manufacturing sector in the region.”
Sarah Newbould, Senior Investment Manager at the British Business Bank, said: “With a strong track record across both businesses, NPIF II is providing SST Group with the firepower needed to continue growing organically over the next few years. Manufacturing and engineering are integral parts of not just the North East’s regional economy, but also of our national economy, so it’s important that NPIF II continues to back these businesses and unlock growth across the UK.”
Dyer has experienced substantial growth over the past five years. Turnover has increased from £11 million in 2020 to over £17 million, with a £2 million profit in 2024.
Earlier this year, the company appointed Adam Leggett as managing director, as part of an ambitious five-year growth strategy aimed at expanding the company’s workforce of 182 by a further 35% by 2030, investing in new machinery, and strengthening global partnerships. Adam will also sit on the board of SST Group, alongside Graeme Parkins and newly appointed Non-Executive Chair Paul Mankin, to help shape the strategic direction of the organisation.
SST Group was supported by UNW, who provided financial due diligence services, with legal advice delivered by Square One Law. Q-Laser was represented by accountants, Clive Owen and lawyers Hay & Kilner.