15 January 2020 | Prithvi Pandya
The Airedale Group, a specialist in installing and servicing catering equipment, has acquired Flowrite Refrigeration Holdings Ltd.
Flowrite, a market leader in the refrigeration and air conditioning service market, will add refrigeration, cellar cooling, remote monitoring and air-conditioning capabilities to Airedale's services.
Tod Harrison, CEO of Flowrite, said that the company's revenues have grown through a combination of attracting new customers and expanding its geographical footprint. The business has transitioned from a regional provider to a national player.
Rob Bywell, CEO of Airedale Group, said: "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 200 service technicians.
"We have the capacity and appetite to make further investments both in our current services and operations, as well as seeking complementary businesses as potential acquisitions. We intend to continue to deploy capital where we believe it aligns to our plan and long-term objectives.
"We understand that operators in the FM sector are under increasing pressure to provide their clients with better standards of service and actively identify initiatives where costs and downtime on critical equipment can be reduced. We have the scale, know-how and systems which we can demonstrate achieve these objectives."