Acquisitions
Our strategy is to create Shareholder value through organic growth and additionally by way of carefully targeted acquisitions. Our acquisition strategy is to acquire complementary businesses operating in specific channels; highly focused, commercially independent operations delivering quality customer service at all times.
The typical criteria our experienced strategic Acquisitions team look for include:
- Fluid power based businesses which fit with the channel strategy
- Strategic in terms of geography or sector
- Technically biased to extend the Group offering
- Strong business leadership
- Specialist knowledge and skills
Acquisitions team
(from left to right) Chris Kershaw, Mark Milligan, Anne Fogg and Russell Cash
During the due diligence process the team are supported by professionals from the following organisations:
- Legals – DLA
- Tax, Accounting and Financial Due Diligence – KPMG, Grant Thornton, PwC HR and Management Consulting – Collinson Grant and Mercer
- Insurance – Marsh
The immediate post integration team covers Business Process, IT and Financial Control, with follow-on work undertaken in Corporate Governance, Risk Management and Business Continuity Planning. This entire process is structured under a "100 Day" project management philosophy led by the CFO.
Acquisitions to date
Since our formation in May 2014, the Group has acquired 12 businesses. Many of the businesses acquired have been a result of owners seeking to retire while ensuring the legacy of their business continues. Most have continued to work for the Company for a transition period to support and train their successors. Some have been invited back to be part of our mentoring programme. We aim to maintain each new business’ position in the market, protecting relationships with its customers and major suppliers. All businesses within the Group benefit from a decentralised structure, giving Profit Centre management significant entrepreneurial autonomy, with support from various light-touch centralised support functions. Read more about each Brand on Our Businesses.
| Date acquired | Company acquired | Components division brand | Services division brand |
|---|---|---|---|
|
March 2020 |
Weltac Limited |
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|
March 2018 |
Balu Limited |
Beaumanor Derek Lane & Co |
|
|
October 2017 |
Group HES Limited |
Hydraulic Equipment Supermarkets Tractec |
Branch Hydraulic Systems Automatec Lubemec |
|
September 2017 |
Hydroflex Hydraulics |
||
|
July 2017 |
Orange County Limited |
Orange County UK |
|
|
June 2017 |
Hi-Power Limited |
Hi-Power |
|
|
January 2017 |
HTL Limited |
HTL |
|
|
July 2016 |
Triplesix Limited |
TSL |
|
|
March 2016 |
Hydravalve Limited |
Hydravalve |
|
|
February 2016 |
Indequip Limited |
Indequip |
|
|
July 2015 |
Nelson Hydraulics Limited and Nelson Fluid Power Limited |
Nelson Hydraulics Ireland Nelson Hydraulics UK |
|
|
May 2015 |
Albroco Limited |
Dormant absorbed into Primary Fluid Power Components |
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|
August 2014 |
Primary Fluid Power Limited |
Primary Fluid Power Components |
Primary Fluid Power Systems |