REG - Flowtech Fluidpower - Non-Executive Director Appointments

Flowtech FluidpowerAnnouncement

08/03/2022 07:00

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RNS Number : 9367D  Flowtech Fluidpower PLC  08 March 2022

 

 NEWS RELEASE

 Issued on behalf of Flowtech Fluidpower plc

 Immediate Release

 Tuesday, 8 March 2022

 

 

FLOWTECH FLUIDPOWER PLC

("Flowtech" or the "Group")

Specialist full-service supplier of technical fluid power products and
services

 

BOARD CHANGES

 

FLOWTECH ADDS TWO NON-EXECUTIVE DIRECTORS TO THE BOARD

 

 

Flowtech Fluidpower is pleased to announce the appointments of James Brooke
and Ailsa Webb as Non-Executive Directors of the Group with immediate effect.

James has had successful City roles in equity and private equity fund
management.  Over his 20+ year career he has gained a wealth of experience
and capabilities covering investments, leadership and mentoring, M&A and
business strategies, audit and consultancy.  Most recently he has been
working with Hanover Investors Management LLP and, prior to this, James spent
three years at Lombard Odier following the spin out of the Volantis team from
Henderson Investment Management.

 

Ailsa has held a number of lead-operational management roles including at TNT
and Brammer Buck and Hickman. Until 2019, Ailsa was Chief Operating Officer
for the UK, Ireland and Iceland territories at Brammer Buck and Hickman, the
UK subsidiary of Rubix Group, Europe's largest supplier of industrial
maintenance, repair and overhaul products and services. In 2019, Ailsa joined
HSS Hire Services, Scotland, one of the UK's largest equipment rental
companies, where she is Managing Director and, in early 2021 she took over as
Managing Director for ABird and Apex Power Solutions, two service business
parts of HSS Group. Ailsa has a deep understanding of the industrials
distribution sector, including within e-commerce where she has a wealth of
digital transformation expertise driving revenue growth through e-commerce
strategies.

 

Roger McDowell, Chair at Flowtech commented:

"The Board remains committed to good corporate governance and ensuring there
is a broad range of skill, diversity and experience that it can draw upon.
So, on behalf of my colleagues and all stakeholders we are delighted to
welcome James and Ailsa to the business.  They bring additional
cross-sectoral experience, strategic, analytical and transformational
competences, and we look forward to working with them as a team as we continue
the development of the Group."

 

Additional information regarding James Brooke and Ailsa Webb, pursuant to
paragraph (g) of Schedule Two of the AIM Rules for Companies, is set out
below.

 

 JAMES DOMINIC BROOKE, 50
 Current directorships/partnerships  Previous directorships/partnerships (last five years)
 Chapel Down Group Plc               Internet Fusion Group Limited

 Maitland Capital Limited            Redhall Group Plc (in administration)

                                     Oryx International Growth Fund

                                     *Flowgroup Plc (in liquidation)

                                     Wameja Pty Ltd

 

James Brooke was a director of Flowgroup Plc, which entered into
administration on 8 November 2018; the liquidation is ongoing and the
shortfall to creditors is unknown at this date. James Brooke was formerly a
director of Redhall Group Plc, which entered into administration on 10 June
2019; the total deficiency to creditors was £12.9m.

 

*This company has no links to Flowtech Fluidpower plc or its subsidiaries.

 

 AILSA GRAHAM WEBB (née Allardyce), 51
 Current directorships/partnerships      Previous directorships/partnerships (last five years)
 N/A                                     N/A

 

Neither James Brooke nor Ailsa Webb hold any ordinary shares in the Company

 

Except as disclosed in this announcement, no other disclosures are required in
accordance with AIM Rule 17 and paragraph (g) of Schedule Two of the AIM Rules
for Companies James Brooke or Ailsa Webb.

 

 

 

 ENQUIRIES:

 Flowtech Fluidpower plc

 Roger McDowell, Chair

 Bryce Brooks, Chief Executive

 Russell Cash, Chief Financial Officer

 Tel: +44 (0) 1695 52759

 Email: info@flowtechfluidpower.com (mailto:info@flowtechfluidpower.com)

 

 Liberum (Nominated adviser and Sole Broker)

 Richard Lindley / Ben Cryer / William Hall / Will King

 Tel: +44 (0) 20 3100 2000

 TooleyStreet Communications (IR and media relations)

 Fiona Tooley

 Tel: +44 (0) 7785 703523

 or email: fiona@tooleystreet.com (mailto:fiona@tooleystreet.com)

 

 

 About Flowtech Fluidpower plc

 Founded as Flowtech in 1983, the Flowtech Fluidpower Group is a group of
 specialist fluid power businesses.  Working in partnership with customers and
 suppliers, we deliver essential components, customer solutions and
 high-quality servicing support to keep global industry moving.  The business
 joined the AIM market in 2014.  Since the start of 2021, the Group has been
 operating under three distinct branded segments: with Flowtech and Fluidpower
 Group Solutions forming what was 'Components', and Fluidpower Group Services
 the remainder. To read more about the Group please visit
 www.flowtechfluidpower.com (http://www.flowtechfluidpower.com) .

 Segment:          What we do:                                                                      Locations:
 Flowtech          Supply of both hydraulic and pneumatic consumables, predominantly through        Flowtechnology Benelux (Deventer)

                 distribution for maintenance and repair operations across all industry markets

                   and supported by supply agreements direct to a broad range of original           Flowtech - Skelmersdale, Leicester & Oldbury
                   equipment manufacturers.

                   Channels to market:

                   E-commerce websites, customer white label e-commerce websites, catalogues, own
                   and customer trade counters.

 Fluidpower        Supply specialist technical hydraulic components & systems predominantly         Primary Fluid Power Components (Skelmersdale)

                 into OEMs and end-user channels to all industry markets and supported by

 Group Solutions   supply agreements direct to a broad range of manufacturer brands.                Nelson Hi-Power Hydraulics (Dublin, Dungannon, UK)

                                                                                                    HTL (Ludlow)

                   Channels to market:                                                              Hi-Power Hydraulics (Cork, Dublin, Belfast )

                   Engineering collaboration, e-commerce.                                           Hydroflex (Brussels, Rotterdam and OudBeijerland)

                                                                                                    Hydraulic Equipment Supermarkets (Gloucester, Leeds)

                                                                                                    Derek Lane & Co (Newton Abbot, Devon)

                                                                                                    HES Tractec (Gloucester)

 Fluidpower        Bespoke design, manufacturing, commissioning, installation, and servicing of     Primary Fluid Power Systems (Knowsley)

                 systems to manufacturers of specialised industrial and mobile hydraulic OEMs

 Group Services    and additionally a wide range of industrial end users.  Capital project-based    Branch Hydraulic Systems and HES Automatec (Gloucester)

                 revenue.

                                                                                HES Lubemec (Gloucester)

                                                                                HES Onsite (Leeds, Gloucester)
                   Channels to market:

                                                                                Flow Connect (Gloucester)
                   In-house design and build, combined with on-site installation, servicing and

                   support.                                                                         Orange County (Spennymoor)

 All the Group's divisions have overlapping product sets, allowing procurement
 synergies to be maximised.  The above segments are supported by a centralised
 back-office team based in Wilmslow, Cheshire.  In total, the business employs
 618 people.

 For more information please visit,  Our business | Flowtech Fluidpower plc
 (https://www.flowtechfluidpower.com/our-business/)

 

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