Flowtech swoops for fluid power importer in £10.2m deal

Skelmersdale, West Lancashire-based Flowtech, the listed fluid power supplier, has swooped to acquire Leicester company  Beaumanor in a £10.2m deal.

Beaumanor, which employs 44 people in Leicester, is an importer and distributor of fluid power products has been bought by Flowtech, along with Derek Lane – both firm’s were part of the Balu group.

Sean Fennon, chief executive of  Flowtech Fluidpower, said: “We are delighted to announce the acquisition of Balu which brings together three major catalogue brands in the UK market place and again widens the customer base we serve.

“It also gives us the opportunity to add a second logistics centre in Leicester which should deliver stock optimisation and supply chain improvements across the Group and operationally de-risk the main Skelmersdale site.”

In October, Flowtech Fluidpower reported a 34% boost to its revenue to nearly £54.5m thanks to a raft of acquisitions.