Flowfit sold to Axel Johnson International

Harrier Fluid Power Ltd t/a Flowfit, a leading distributor and manufacturer of hydraulic components and systems, has been sold to Axel Johnson International’s business group Driveline Solutions in a transaction advised by KBS Corporate Finance.

Based in Ludlow, Shropshire, with an additional sales office in Wellingborough, Flowfit offers a wide range of hydraulic products and accessories, including power packs, cylinders, valves, motors, pumps, hoses, connectors and filtration products.

The company serves off-highway sectors including agriculture and forestry, as well as marine and industrial applications. Flowfit has established a strong position in the UK market due to its broad customer base, technical expertise and ability to deliver tailored solutions.

Flowfit has built an impressive reputation for quality, service and reliability, and is further recognised for its robust, user-friendly and extensive e-commerce platform.

Its acquirer, Driveline Solutions, is a fast-growing provider of driveline systems and related technical services for mobile off-highway, marine and industrial applications.

Headquartered in Sweden, Driveline Solutions has a strong presence in the Nordic countries, Eastern Europe and the UK, comprising well recognised companies which have an extensive background in its market.

“We are very happy to join Axel Johnson International and Driveline Solutions,” said Simon Parsonage, Founder and Managing Director of Flowfit. “We see great opportunities to grow the business further and reach new heights together.

“Axel Johnson International is a long-term, responsible and value-driven owner with deep industrial knowledge and a hands-on approach – an ideal partner for our continued growth journey.”

Flowfit will continue to operate as an independent company, with Simon Parsonage remaining as Managing Director and retaining a minority shareholding.

“I am personally delighted with this acquisition and immensely proud of what it represents for Flowfit,” added Simon. “Joining forces with Axel Johnson International — a privately owned global industrial group — and becoming part of the Driveline Solutions Business Group is a clear testament to the strength of our people, our culture and our long-term vision.

“This partnership positions Flowfit perfectly for the future, enabling us to build on our success while staying true to who we are. I am genuinely excited about what lies ahead and confident this step will create significant opportunities for our team, our customers and our partners.”

Simon also praised the work of KBS Corporate Finance throughout the transaction, saying: “KBS played a pivotal role in the successful sale of Flowfit.

“I would like to personally thank David Gardner, Managing Director, and Annie Pritchard, Corporate Finance Manager, whose professionalism, commercial insight and unwavering commitment were absolutely instrumental throughout the transaction.

“Their hands-on, proactive approach and clear guidance at every stage gave us complete confidence and were key to achieving such a positive outcome.

“I would have no hesitation in recommending KBS to any business owner considering a sale.”

Jan Brattberg, Managing Director of Driveline Solutions, commented: “Flowfit is a family business built on solid values and long-term commitment, which aligns very well with Driveline Solutions’ culture and strategy. This acquisition represents a natural step in the continued development and expansion of our hydraulics business.

“Flowfit complements our existing companies in terms of suppliers, market segments and capabilities, and further strengthens our presence in the UK.”

Annie Pritchard, Manager within KBS Corporate Finance, commented: “It has been a pleasure working with the shareholders of Flowfit. We believe the acquisition will be a great addition for Axel Johnson International, with mutual values and the potential for growth within the market.

“We wish Simon and the management team all the best with this chapter.”

Credits

KBS Corporate Finance – Annie Pritchard and Dave Gardner

K3 Tax Advisory (sell-side tax advisers) – Dominic Lay and Holly Bedford

TLT LLP (sell-side lawyers) – Victoria Zivkovic, Seraphina Wilkins-Tolliday, Matthew Shephard, Greg Mazgajczyk, Mudassar Iqbal and Harry Jenkins