Maidstone-based Flowrite Refrigeration Holdings has been acquired by the Airedale Group, a leading catering equipment installation and servicing specialist.
Airedale Group CEO Rob Bywell said: “This is a significant and exciting investment and one that creates a compelling proposition. The acquisition of Flowrite coupled with our existing service operation, creates the largest specialist maintenance platform operating in the UK hospitality sector today, with a combined total of over two hundred service technicians.
“Following the acquisition, 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.”
Refrigeration and air conditioning contractor Flowrite serves some of the UK's largest retail and hospitality brands, with 100 engineers around the UK. Under the leadership of CEO Tod Harrison, it says it has grown revenues through a combination of attracting new customers and expanding its geographic footprint.
Tod Harrison said: “We are very proud of what we have achieved as a team over the last three years with the support from our investment partner, Foresight. However we all believed the time was right for the next stage of our development. 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 for the next part of our journey.”
Airedale Group, based in Bradford, employs more than 400 people and operates a number of specialist brands including Airedale Catering Equipment and South Cost Catering, covering design & installation, manufacturing, and service & maintenance.
Rob Bywell added: “This is an exciting development for all our combined staff, customers and suppliers and I would like to take the opportunity to welcome all of the Flowrite team into the Group. The existing management will remain in place under Tod, and will continue to develop their day to day operations, grow the staff and their customer base which has been key to their ongoing success as proven by their recent industry award. I am also pleased to welcome Tod onto the Group Board and I, and the other members of our senior team, look forward to helping them realise their ambitious plans.”