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We are delighted to have acted for a growing private equity-backed kitchen specialist on their latest attainment.
Airedale Group, a commercial provider of design, build and maintenance services, has swooped for Flowrite Refrigeration Holdings, a refrigeration and air conditioning specialist.
The group, a portfolio company of Rockpool Investments, acquired Flowrite, who are owned by Foresight Group and have seen revenues double in the last three years.
Bradford-based Airedale specialise in the design, installation and servicing of catering equipment in the UK, working across sectors including retail, hospitality, education and healthcare. They were established in 1985 and now employ over 400 people.
The combination of Flowrite and the existing Airedale service operation is expected to create one of the largest specialist maintenance platforms in the UK, with more than 200 service technicians looking after catering equipment.
Martin Sweeney, Managing Partner, said: "We are delighted to have worked with Airedale on this deal. This is the third acquisition undertaken by the group following investment and shows significant expansion that will benefit a number of sectors. We wish them all the best for the future."
Rob Bywell, chief executive of Airedale, added: "This is a significant and exciting investment and one that creates a compelling proposition. We will continue to make long term investments in our current services and operations as well as seek complementary businesses as potential acquisitions."
Airedale were advised by Martin Sweeney, Shaheeda Ahktar, Rishi Sarin, and James Farrell (Corporate); Elizabeth Tovey (Commercial); Craig Burman (Environmental & Regulatory). Additional support came from Gemma Sherbourne (Employment); Simon Petchey (Property) and John Feaster (Taxation).
To find out how we can help with expansion plans for your business, please contact the team on 01274 350 800 or email firstname.lastname@example.org.