£2.7 million pumped into Hydromarque growth strategy
Pump specialist Hydromarque is set for significant expansion following its acquisition by a specialist private equity backer.
BCF Equity Partners acquired Peterborough-based Hydromarque in a deal totalling £2.7m.
Hydromarque is an exclusive UK distributor of Gorman-Rupp, Cornell and Wallwin pumps across a range of industries including water and food production.
Following acquisition, BCF is now looking to significantly grow the business and increase market share as the pump industry moves away from submersible products towards above ground pumps.
The acquisition was supported by Shawbrook Bank via a £1.4m commercial loan.
Rob Newcombe, managing director of Hydromarque Ltd, said: “We are delighted to have gained the support of BCF Equity Partners as we look to take the next step in the Hydromarque journey.
“We have high ambitions to grow the business and bringing on board a professional investor to support that will add real value to those efforts.
“The industry is moving away from submersible pumps towards above ground pumps and this will drive further growth for Hydromarque.
“In addition, the UK water industry has committed to spending £51 billion in the next five years on improvements to UK sewage and water infrastructure and with businesses in the food industry announcing post-Brexit plans to source more produce from UK-based companies the outlook is extremely healthy.
“Coupled with both of those situations, the growing environmental concern remains and companies will be looking to increase the recycling of water – which in turn drives further opportunity for Hydromarque. Through the support from BCF, we are in prime position to take advantage.”
Established in 1987, Hydromarque Ltd is a privately owned business which was the subject of a management buy-out by its current team in 2013.
As well as being an exclusive UK distributor of Gorman-Rupp, Cornell & Wallwin Pumps, the business also specialises in technical pump assistance and system design, pumpset drawings, in-house repairs and training of operators and maintenance staff.
The company enjoys a healthy and growing client base and works with some of the most prominent brands in their sectors. In the water industry, Hydromarque has coverage across the UK serving all the regional water utility companies.
The company also supplies many of the major UK food businesses particularly in the vegetable/meat processing and snacks sectors.