MD takes the reins again after takeover deal
Altrincham-based Hydratron has appointed Findlay Beveridge as its new managing director.
The company supplies high pressure and flow control equipment to the global oil and gas industry.
Mr Beveridge has been promoted from sales and commercial director to the top position following the acquisition by Dundee-based integrated manufacturing firm Pryme Group in June.
He has held senior roles with Hydratron since 2010 and has more than 20 years’ oil and gas experience in sales and management positions, both in the UK and internationally, specialising in high-pressure equipment.
He previously served as managing director of the firm between January 2012 and October 2015, before taking on a sales and commercial business development role to improve global sales and supply partnerships.
Hydratron manufactures and supplies bespoke products worldwide, including high pressure air-driven liquid pumps, gas boosters and associated systems.
The company was founded more than 35 years ago and has a comprehensive partner network among oil and gas producing regions in North America, the Middle East, South East Asia and Australia.
New owners Pryme Group will assist Hydratron in entering new sectors, such as aerospace and defence, as well as new segments of the oil and gas industry.
Mr Beveridge said: “I am delighted to have returned to the leadership role with Hydratron and look forward to navigating the business through this transition period to build upon the strong foundations already in place here.
“Beyond that, we will manage the integration of the Hydratron brand and proprietary product line with Pryme’s manufacturing expertise to help capture increased market share.”
Hydratron, which employs 29 people, will continue to trade under its current name.
The company recorded turnover of £3.9m for its September 2017 year-end and is targeting growth of between 15% and 20% over the next 12 months with production synergies expected to create greater efficiencies.
The acquisition will also provide comprehensive engineering services to Pryme’s clients across large parts of the UK as well as increase the group’s presence across the oil and gas, aerospace and defence sectors.
Murray Kerr, chief operations officer at Pryme Group, said: “Findlay has played an integral role over the past eight years and we are confident he will continue to drive the business forward with the increased resources we can provide through the other Pryme operations.”
Pryme Group, which employs 260 people, has additional operations in Dundee, Ellon, Morecambe and North Shields.
The business is currently developing a new £9.5m engineering services division in Tyneside, which will be fully operational later this year.
