Flowmax announces the acquisition of OLE (UK) Ltd by Hytek (GB) Ltd, part of the Flowmax group. OLE, based in Chichester manufactures and owns the IP for tank gauging, level indicators, alarms and web monitoring systems for storage tanks which are used for day tanks, bulk tanks, water, oil and fuel supplies.
The acquisition supported Nick Lambourn, the founding owner and Managing Director’s long term plan to reap the rewards of the strong brand he had built from the ground up, also enabling him to take a step back to a semi-retired role. The move now frees him up to focus his energy on the design and development of new innovative products potentially adding to OLE’s market leading portfolio and providing continuity in product development.
Nick said ‘Hytek was an ideal partner in both having a deep appreciation of my personal objectives but also in being a good fit to launch our products to new and wider markets. The new role strikes the perfect balance of having enough freedom to continue in what I love working on – improving and developing new products but also to design and set my ideal retirement roadmap.’
Hytek, located near Stanstead airport, has been a supplier of fuel equipment and lubrication equipment since 1985 and will incorporate the OLE range into its set of core products. By using its strong sales and marketing functions Hytek’s vision is to push the OLE product range to a much wider global market.
More information about the company can be found here: http://www.oleuk.com/