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A 20-year-old firm that manufactures hydraulic energy packs has been offered in a deal accomplished by Crawley-based company finance specialists Watersheds.
Hydraproducts Ltd, which was established in Gloucester in 2002 by entrepreneur Ben Lee, has been offered to R & G Fluid Energy Group.
R&G is among the UK’s largest suppliers of aftermarket fluid energy elements, elements and assemblies, whose head workplace is in Preston, and which has an annual turnover of round £75m.
After working for among the main gamers in hydraulic engineering in Italy and within the UK, Lee established Hydraproducts within the UK, having recognized a spot out there for modular hydraulic energy items. He slowly however persistently grew Hydraproducts, capitalising on his expertise of working in continental Europe. Through the years he took on and retained plenty of proficient and dependable employees who’ve remained loyal to the corporate.
Watersheds Companion Yuri Fernandes mentioned that even though Ben wished to exit his enterprise comparatively quickly after sale, Watersheds had been in a position to generate half a dozen completely different presents for the enterprise, which was testomony to the unbelievable power of the enterprise Ben had constructed.
“Ben began the enterprise from nothing and has made it an ideal success, however felt that he wanted to move the baton on to a bigger organisation to allow his employees to achieve their full potential and permit the enterprise to enter its subsequent stage of development,” mentioned Yuri Fernandes.
“With the backing of R&G, Hydraproducts will probably be well-positioned to develop and develop.
“The hydraulic market is sort of area of interest, however we had been in a position to supply potential patrons fully confidentially, together with some which Ben wouldn’t have thought to strategy.
“Though Ben was initially involved that a few of R & G Group’s corporations had been potential rivals to Hydraproducts, we recognised that by buying the enterprise they might achieve a robust presence within the hydraulic energy pack market – a key market they had been missing presence in, and set up a robust basis to start cross border commerce into continental Europe.
“In addition to recognising the massive potential for R & G, the group additionally valued the power and competency of Ben’s current administration staff. This gave them the boldness to have the ability to accommodate Ben’s want for a clear exit after a smart handover interval. All R&G corporations are regionally managed by skilled employees who pleasure themselves on their intensive product information and understanding of native markets and buyer wants.”
Ben Lee mentioned: “Once I started excited about passing the enterprise on, I had no thought of what the corporate could possibly be value, how I ought to discover and strategy potential patrons, and the way I might negotiate a comparatively early exit.
“Watersheds did an amazing job of sourcing a large alternative of presents, whereas sustaining whole confidentiality in what’s a really small world, and the ultimate outcome far exceeded my preliminary expectations.
“I’m assured that, as a part of the R&G Group, Hydraproducts and its employees can have the assets to proceed the success story and take the enterprise to a brand new stage.”
Authorized advisors for Hydraproducts had been Thrings of Swindon; Forbes of Preston suggested R&G.
The put up R & G Fluid Energy Group acquires Hydraproducts Ltd because it seeks European development appeared first on Enterprise Chief.
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