Hydraulics firm lifted by takeover

Shropshire-based Hydraulics & Transmissions Limited (HTL) has been bought in a deal worth £2.65m.
The company, which employs 25 people in Ludlow, is to become part of technical fluid power products supplier Flowtech Fluidpower.
HTL will operate as an independent sister company within Flowtech’s Power Motion Control division. Its managing director Ian Teece and commercial director Richard Salisbury, who have led the business for more than 10 years, will join the group’s operational board.
HTL provides fluid power solutions predominantly to the mobile market segment and supplies some of the market leaders such as JCB, McConnell and Alamo.
The deal sees Flowtech pay £750,000 and assume £900,000 of debt. Further payments, expected to be around £1.0m, are to be made over a two-year earn-out period.
Flowtech, which is listed on the Alternative Investment Market, said the acquisition “provides incremental revenue to the Group that we could not previously address” and complements its previous acquisitions of Primary Fluid Power and Nelson Hydraulics.

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