Acquisition of Group HES Ltd by Flowtech Fluid Power PLC
19 Oct 2017
12 October, 2017: Specialist technical fluid power products supplier Flowtech Fluidpower plc is pleased to announce the further strengthening of its Power Motion Control (PMC) division through the acquisition of BFPDA member Group HES Ltd.
Background to the Acquisition
Founded in 1965 and, today headquartered in Gloucester, England, Group HES is a multi-faceted solutions provider to the fluidpower sector. HES employs 89 people across is network of branches located in Birmingham, Durham, Gloucester and Leeds. The business operates under five trading brands: Hydraulic Equipment Supermarkets; Branch Hydraulic Systems, and more recently established specialist distributor brands in HES Tractec, HES Lubemec and HES Automatec.
The acquisition provides another complementary business to the Group’s PMC division, delivering incremental revenue through a mix of wider technical applications, reinforces our offer to the off-highway market and adds aerospace to our sector coverage.
HES will operate within the PMC division and continue to be managed by the current senior management team. Previous owner and Managing Director, Stuart Diesel, who has been with the business for over 20 years will remain with the HES business during a transition period, and in 2018 he will then take up a new role as Divisional Managing Director – Onsite Services. Working with the existing resources available within the PMC and Flowtechnology operations Stuart will build this new division within the Flowtech Group. The launch of this new division represents the final element of the multi-channel strategy outlined at the time of the Group’s IPO in 2014.
Sean Fennon, Chief Executive, Flowtech Fluidpower plc commented: “We are delighted to add the technical skills and knowledge of this long-established business to the Group; HES adds new brands and sectors to our portfolio; it also gives us the opportunity to build our fourth leg in technical maintenance which enhances our overall service offering to our customer network. This move clearly reinforces our ongoing strategy to develop a focused Fluid Power Group that serves a wide number of industry sectors, allowing a de-risking of some of the cyclic nature of the business.”
Stuart Diesel, former owner and Managing Director of Group HES added: “The opportunity to join Flowtech as it rolls out an exciting Group strategy was instrumental in my decision to sell the business. This change also considerably enhances several aspects of our HES business and offers new and exciting prospects for all our employees. My team and I are looking forward to being part of this industry respected business – we recognise that the strategy and the resources available to us opens up new prospects and makes it possible to attain significant growth beyond what was achievable as an independent business.”
For more information on Group HES Ltd please visit their website www.grouphes.com