Dyer Engineering 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.
Over the past five years, Dyer has experienced substantial growth, with turnover increasing from £11 million in 2020 to over £17 million, generating a £2 million profit in 2024.
The new engineering group is owned and led by the Directors of Dyer, and will be led by Chief executive Richard Bradley, who was recently named in the 2025 The Manufacturer Top 100 leaders and innovators in UK manufacturing. Adam Leggett, the managing director of Dyer also takes up the position of chief operating officer of SST Group.
"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."Richard Bradley, Chief Executive of SST Group
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 as COO, alongside Graeme Parkins as strategic growth director and newly appointed Non-Executive Chair Paul Mankin, to help shape the strategic direction of the organisation.
"Leading Q-Laser 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.”Colin Hewitt, Managing Director of Q-Laser
As an immediate sign of its intent for growth, the Group has acquired Washington-based Q-Laser, a precision engineering business with a turnover of £3.3 million and a 30-strong team. Q-Laser will operate as an individual business within the SST Group, just like Dyer, and will benefit from the shared stability, investment and collaborative opportunities that come with being part of 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.
“Maven first backed the business 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.”
Michael Vassallo, Investment Partner at Maven
“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.”
Sarah Newbould, Senior Investment Manager at the British Business Bank
NPIF II - Maven Equity Finance can provide investment of up to £5 million to support ambitious earlier and later stage businesses across the North East of England. If your business, or the business you advise, is looking for an equity investment as a solution to fund future growth, get in touch here >
The Finance Durham Fund is part of Business Durham’s strategy to deliver economic growth across County Durham by supporting local ambitious and entrepreneurial businesses who need access to the funding they require to grow. The Fund provides flexible equity, debt or mezzanine funding packages from £150,000 to £2 million for early stage and established businesses, investing across all sectors, get in touch here >