Acquisitions and growth take Flowtech to £54.5m revenue

Flowtech

Technical fluid power products supplier Flowtech Fluidpower is reporting a 34% boost to its revenue to nearly £54.5m thanks to key acquisitions.

In the nine-month period to September 30, the Skelmersdale, West Lancashire-based company has bought Gloucester company and European company Hydroflex Hydraulics.

“These acquisitions have all added or enhanced the Group’s position with key European and global suppliers,” a company statement said. “It has broadened our sector and geographical coverage, and added to our technical competence.”

The company said it has also enjoyed “organic sales growth” in the Q3 period of 12.4%, although the comparative quarter in 2016 reflects the period immediately following the June Brexit vote when markets and currencies softened, and consequently a strong rebound was expected.

Click here to sign up to receive our new South West business news...
Close