Flowrite is expected to continue operating under existing management team, but as part of end-to-end facilities management specialist
The Airedale Group has announced the acquisition of Flowrite Refrigeration as part of a move to expands it capabilities to offer an end-to-end facilities management service for customers that will now include cooing functions.
Flowrite was crowned winner of Contractor of the Year: Over 100 employees at the Cooling Awards last September.
The addition of Flowrite’s expertise in cellar cooling, refrigeration and monitoring services is expected to create ’one of the UK’s most significant maintenance groups operating across the hospitality sector’, Airedale Group chief executive Rob Bywell has said.
A total of more than 200 service technicians will now work under the combined Airedale Group following the acquisition.
Mr Bywell added, “Airedale’s offer is truly end-to-end; design, manufacture, installation and maintenance of everything in the commercial kitchen throughout the UK, which we believe to be a first in the UK market”.
Under the terms of the acquisition, Flowrite will retain its existing management under the company’s current chief executive Tod Harrison, who will also take a place on the Airedale Group Board.
Mr Bywell said, “We have the capacity and appetite to make further investments both in our current services and operations, as well as seeking complementary businesses as potential acquisitions. We intend to continue to deploy capital where we believe it aligns to our plan and long-term objectives.”
Tod Harrison said Flowrite felt that the sale of the company to the Airedale Group was the right decision to ensure further development of its operations after the company’s previous expansion plans yhat were undertaken in collaboration with investment partner, Foresight,
He added, “I don’t think there is any doubt that the team at Airedale is one of the most professional and entrepreneurial operating in the sector today and their track record is second to none. As a business they buy, invest and support their acquisitions.”
“This philosophy of building a group of highly complementary brands that are specialists and leaders in their respective sectors but also work closely together, was a compelling consideration and a key reason we chose to partner with Airedale.”