RCS - Flowtech Fluidpower - Flowtech capitalises on acquisitions opportunities

Flowtech FluidpowerAnnouncement

21/05/2025 10:30

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RNS Number : 6043J  Flowtech Fluidpower PLC  21 May 2025

NEWS RELEASE

Wednesday, 21 May 2025

 

 

FLOWTECH FLUIDPOWER PLC

("Flowtech," the "Group" or "the Company")

 

Flowtech capitalises on further acquisitions opportunities

 

 

 

 

 

Flowtech, the leading distributor and engineering solutions provider in power,
motion and controls, is pleased to announce the recent acquisition of Thomas
Group on 1 May 2025. This bolt-on acquisition, alongside that of Allswage in
March, will further expand the Group's addressable market and the strategy to
expand its product, service and geographical reach.

 

Thomas Group is a Kent, UK based service provider and global distributor of
branded products for some of the largest original equipment manufacturers of
engine, filtration, and fuel technologies across the automotive, mobile and
transportation sectors. Flowtech acquired the entirety of the business and
assets with the exception of the freehold property (which the business will
occupy under a commercial lease agreement). The consideration for the
transaction was the adoption of certain liabilities with a value broadly
equivalent to the value of acquired assets. The acquisition of Thomas Group
adds to the Flowtech footprint and service offering, with the expectation that
Flowtech can quickly build on an inherited position of c.£2m revenue and
breakeven trading performance.

 

Allswage is a Midlands, UK based hydraulic hose assembly equipment specialist,
with over 40 years of experience in the industry. They specialise in swaging
and industrial hydraulic hose machinery, mobile and container workshops, as
well as off-the-shelf van racking. On top of this, they offer spares,
accessories, service, and support to customers in the UK and Ireland.

 

This follows the acquisition of the business and assets of Thorite out of
Administration last August. After focusing on controlling gross margins and
costs, the Thorite business was restored to profitability within two months
and is expected to provide a significant contribution to overall profitability
in 2025 and beyond. Relationships which Thorite built over many years have
also provided incremental growth opportunities for the broader Flowtech
business.

 

Mike England, CEO said

"Thomas is a strong strategic fit with Flowtech, building stronger
relationships with new and existing global leading brands, expanding our
products and services, including cross-selling opportunities, enabling
addressable market expansion to support our growth strategy.

 

"More broadly, Flowtech continues to focus on its clearly defined growth
strategy and this acquisition is the latest to follow that of Allswage and the
successful integration and turn-around of Thorite. These demonstrate the
company's ability to capitalise on strategically valuable, margin accretive
opportunities to deliver profitable growth and drive shareholder value."

 

EDITORS NOTE:

Flowtech Fluidpower plc (AIM:FLO), is the largest supplier of fluid power
products, systems and solutions in the UK, Ireland, and Benelux. As a
specialist we have the expertise and experience our customers need to help
them minimise downtime, optimise performance and maximise the lifespan of
operations. Today, the Company is a strong market leader in a highly
fragmented £30bn European market. We work across virtually all industry
sectors, serving the needs of our customers who are designing, building,
maintaining, and improving industrial plant, equipment, and operations.

Our aim: is to provide our customers with power, motion & control
solutions, from a single component to integrated engineering systems, in the
most cost-effective way, harnessing the best global brands & products,
services and engineers in the market.

To read more about the Group, please visit: www.flowtechfluidpower.com
(http://www.flowtechfluidpower.com) .

 

 

 

 FURTHER ENQUIRIES TO:
 FLOWTECH FLUIDPOWER PLC

 Mike England, Chief Executive Officer

 Russell Cash, Chief Financial Officer

 Tel: +44 (0) 1695 52759

 Email: investorrelations@flowtech.co.uk
 (mailto:investorrelations@flowtech.co.uk)

 TooleyStreet Communications (IR and media relations)

 Fiona Tooley

 Tel: +44 (0) 7785 703523

 Email: fiona@tooleystreet.com (mailto:fiona@tooleystreet.com)

 

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