Finning said that the acquisition of Hydraquip would complement its present product enhance offering.
Hydraquip specialises in offering round the clock nationwide coverage for hose replace, assembly and becoming, oil replenishment and conventional hydraulic servicing.
Headquartered in Kent, Hydraquip employs 270 of us and serves extra than 4,000 prospects at some stage in a numerous vary of industries. With 130 mobile service automobiles working from a community of 22 branches, Hydraquip targets to answer to call-outs and total repairs within three hours.
In 2020 Hydraquip Hose & Hydraulics turned over £21m and made a receive profit of £1.9m.
Tim Ferwerda, managing director of Finning UK & Eire, said: “The acquisition of Hydraquip demonstrates our commitment to salvage on and prolong our reach to receive unheard of product enhance and aftermarket companies and products for our prospects. The firm is a mountainous match with Finning, by manner of its family-oriented and buyer-focused tradition, which enhances our present product enhance service perfectly. The Hydraquip mark title will live in plot as we support and salvage upon the excessive standards of service it’s identified for. The exchange has a longtime footprint with hydraulic hose specialists furious by industries reminiscent of constructing, transportation, destroy management, utilities, manufacturing, and materials coping with.”
Hydraquip founder Duncan MacBain, who turned 60 final yr, said: “Joining Finning is an extraordinarily thrilling pass for Hydraquip and will notify a excessive step in the persevered enhance of our offering, enabling Hydraquip to recognise its paunchy doable in the UK and further afield. We are in a position to uncover many cultural similarities as successfully as exquisite alternatives between the corporations to present prospects an even stronger proposition.”
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