Sale of Gas and Oil Tube Fittings Supplier
Hornblower is pleased to announce the sale of Hydraulic & Gas Services (H&G), a Manchester-based gas and oil tube fittings supplier. Throughout its 26-year trading history, H&G has built a global client base within the oil, gas, power and process industries, delivering a diverse range of thousands of product lines from its warehouse located in the North of England.
Along with its extensive range of standard products in the form of pipe fittings, tube fittings and valves, H&G specialises in producing custom-made tube systems, sub-assemblies, and fabricated components to customer specifications. This highly focused delivery of products and services is a crucial factor in the company’s consistent performance, typically generating turnover of between £1M - £1.2M per annum.
H&G enjoys long term supplier relationships with reputable manufacturers within the industry. Key supplier relationships include H&G’s official sales agent status with leading tube fittings manufacturer, Waverley Brownall.
H&G’s prominent profile within the power and gas sectors and its proven manufacturing and product expertise placed the company in a strong position for growth within a highly specialised and expanding industry – which proved a key pull factor in the acquisition process.
When placing this company on the market, Hornblower received over 60 expressions of interest, before receiving an offer for acquisition by Yorkshire-based A1 Fixings and Tools. A1 Fixings and Tools is an independent power tools specialist with a 30-year trading record and a view for expanding its one stop shop service offering of power tool sales, hire and repairs.
The deal completed in October 2023, with the sellers commending Hornblower for conducting the process with ease and clarity throughout. The deal was managed by our International M&A Director, Mark Sykes. Mark manages business sales for Hornblower from our Nottingham office.
SOLD – October 2023
