Flowmax announced today the acquisition of a majority holding in the shares of Essco Controls Ltd. Essco Group based in Southampton UK, has a green energy focus designing products for and supplying the heating, ventilating, air conditioning and process industries with market leading energy efficient products and systems.
The acquisition supported the long term aim of Richard Stammers, Essco’s Managing Director and founding owner to reduce his shareholding yet also continuing to lead the business. Richard wanted to free up some of his equity in the business but wasn’t planning on retiring in the short term being a younger man in his 40’s.
It was important for Richard to be at helm of the business supported by his chosen management team. Flowmax enabled two of Richard’s directors to personally buy-into the business, retaining the established senior management team and providing continuity for the business and staff as an independent company within the Flowmax group.
Essco is firmly committed to a green energy focus which sits well with Flowmax’s vision to build its up environmentally sound portfolio. Flowmax sees the acquisition as a positive step towards supporting companies working to reduce energy use while continuing its focus on fluid control and management products.
More information about the company can be found here: https://esscogroup.co.uk/