MBO at Mansfield hose manufacturer
Mansfield-headquartered Express Hose & Fittings, a hydraulic and pneumatic hose manufacturer, has undergone a management buy-out (MBO) after landing a £368,000 funding deal from Santander Business Banking.
Express Hose & Fittings offers hose and fittings to clients in a wide range of industries including food processing, construction, manufacturing, agriculture, transport and engineering. The parts provided are used in engines, heavy equipment and manufacturing lines, with a focus on pneumatic and hydraulic services. Well known clients include Uniper, Rolls-Royce, and Babcock International.
The business says it has plans to explore international markets and hire apprentices following the MBO.
Paul Toplis, director at Express Hose & Fittings, said: “With this funding we will be able to strengthen the business’ position as a market leading firm at the centre of the supply chain for many UK and international businesses. We are now looking to build on this momentum and take Express Hose & Fittings to the next level and the funding from Santander Business Banking has been key for us to realise our plans.”
Paul Richardson, relationship director at Santander Business Banking, said: “Express Hose & Fittings provides an unparalleled service to their clients and is now in a strong position to expand. We are delighted to be able to support a UK manufacturing business at the heart of the UK supply chain which is so highly regarded in its field.”