We have a long 75-year history of forward-thinking teams, and mission-critical equipment operating effectively in the world’s most challenging environments.
TP Group plc was registered as a public limited company on 2nd June 2015 following a name change from CORAC plc.
The Group can trace elements of its history back over seventy-five years' through various parts of the business as it stands today.
The spine of the Group traces back to a technology development business that emerged from Brunel University in the late nineties. Its goal was to commercialise some innovative research into frictionless bearings that were used in compact radial compressors. That was Corac, and the company was listed on the AIM market of the London Stock Exchange as Corac Group plc in 2001.
The company developed and trialled systems in industrial settings and in upstream gas production. By 2010, Corac was continuing to lose money through the long-term investment in the compressor systems, so the leadership began to look for more commercial channels through which to stabilise and grow the business.
Through a fundraising in 2011, the Group acquired two companies from the Wellman Group. Wellman Defence, based in Portsmouth, built atmosphere management systems for submarines with over sixty years’ heritage supporting naval engineering. Wellman Hunt Graham manufactured heat exchangers for downstream petrochemical industries, and could rely upon 75 years’ of engineering heritage in Greater Manchester.
These businesses added breadth and depth to the Group as it became a truly commercial operation. Performance improved year-on-year, with break-even in 2015 and positive Adjusted EBITDA ever since.
We rebranded to become known as TP Group in mid-2015 and continued our growth ambitions with further fundraising and the acquisition of ALS Technologies and Flexible Software Solutions in early 2017, and then Polaris Consulting at the end of that year.