Yates & Thom of Blackburn was established in 1890 as a manufacturer of engines for mills, collieries and waterworks. The company was a partnership between William Yates and William Thom.

Yates had set up his original business, William Yates (of Blackburn) at Canal Foundry, Blackburn, in 1826. He was joined in partnership by John Yates in around 1848, and the company name changed to W and J Yates. At some point, John Yates left the partnership, and Frederick Yates and Sydney Robert Yates joined. William Thom became a partner in around 1878.

W and J Yates was dissolved in 1890 and William Yates continued in business with William Thom under the new company name Yates & Thom.

Around 1901, Yates & Thom supplied six twin cylinder vertical engines driving 1500 kW alternators to Stuart Street Power Station, Manchester. The company also supplied compound engines, Lancashire boilers and winding engines.

In 1928, Yates & Thom Ltd was acquired by Joseph Foster & Sons. The company became known as Foster, Yates & Thom.