The Leading News & Information Service For The Facilities, Workplace & Built Environment Community

Airedale Buys Flowrite To Become Largest Hospitality Maintainer

Airedale
15 January 2020 | Updated 02 December 2020
 

The Airedale Group, the specialists in the installation and servicing of catering equipment UK has acquired Flowrite Refrigeration Holdings Limited.

Commenting on the acquisition, which was announced on Monday January 13, Airedale Group’s CEO Rob Bywell said: “This is a significant investment and one that creates a compelling proposition. 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 two hundred service technicians.”

The Airedale Group is owned by Rockpool - the investment company focuses on profitable and growing companies that are still under the radar of mainstream private equity funds.

Bywell added: “Following the acquisition, Airedale’s offer encompasses design, manufacture, installation and maintenance of everything in the commercial kitchen throughout the UK, which we believe to be a first in the UK market.”

 

Flowrite

Flowrite is a substantial operator in the refrigeration and air conditioning service market. The company has a large customer base which includes some of the UK’s best-known hospitality and retail brands. Flowrite’s has a professional team of one hundred engineers based throughout the UK and boasts technology platforms that allow the company to maximise the utilisation of their human, transportation and spares assets.

Flowrite, under the leadership of their CEO Tod Harrison, has grown revenues through a combination of attracting new customers and expanding its geographic footprint – transitioning the business from a strong regional provider to a national player. Flowrite was recently awarded National Contractor of the Year in the Annual RAC Cooling Awards.

Flowrite’s proprietary Cooler Response technology provides customers with real-time remote monitoring of their assets, enabling customers to identify and address issues before they occur.

 

Next stage

Harrison told ThisWeekinFM: “We are very proud of what we have achieved as a team over the last three years with the support from our investment partner, Foresight. However we all believed the time was right for the next stage of our development. I don’t think there is any doubt that the team at Airedale is one of the most professional and entrepreneurial operating in the sector today. As a business they buy, invest and support their acquisitions. This philosophy of building a Group of complementary brands that are specialists and leaders in their respective sectors but also work closely together, was a compelling consideration and a key reason we chose to partner with Airedale for the next part of our journey.”

 

Open to more

Airedale's Bywell added: “This is an exciting development for all our combined staff. The existing Flowrite management will remain in place under Tod and will continue to develop their day to day operations, grow the staff and their customer base.

“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.”

 

Foresight

The Foresight Group is an independent infrastructure and private equity investment manager. Since Foresight made their original investment, Flowrite has more than doubled revenues. Foresight's exit is for a yet undisclosed amount.

Picture: Flowrite has been acquired by Airedale.

Article written by Brian Shillibeer | Published 15 January 2020

Share


Related Tags


Related Articles

Compass Group Finalises Deal to Acquire CH&CO

Compass Group UK & Ireland has completed the deal to acquire the catering company, CH&CO.  As part of the deal, catering brands Gather & Gather,...

 Read Full Article
Sodexo Embraces Carbon Labelling at 300 UK and Ireland Sites

As part of its sustainable catering plans, Sodexo is introducing carbon labelling on its menus. The new labels will show the carbon impact of a particular meal choice,...

 Read Full Article
How AI Checkouts Can Revolutionise Decision Making in Facilities Management 

AI checkouts have ushered in a new era of data-driven decision-making, transforming how FMs manage their catering operations.  In this Opinion piece, Sergii...

 Read Full Article
Levy Extends Partnership With Sheffield United Football Club

Catering and hospitality company Levy UK + Ireland has extended its partnership with Sheffield United Football Club with a ten-year catering contract. Levy will...

 Read Full Article
Sodexo Signs New FM Contract With AstraZeneca

Sodexo has re-signed a five-year facilities management and food services deal with pharmaceutical and biotechnology company AstraZeneca. The companies have worked...

 Read Full Article
Sodexo Retains FM Contract With Wellington College in Berkshire

Sodexo has re-signed a ten-year soft FM contract with private school Wellington College in Berkshire. The contract is worth approximately £80 million and...

 Read Full Article
Catering Companies Prepare for World’s Largest Climate-Football Campaign

A national campaign will see more than 85 of the UK’s top football clubs promote plant-based burgers, pies and hotdogs. Between 2-5 February, the whole of the...

 Read Full Article
ISS Wins Catering Contract With Kent and Medway NHS Trust

A five-year contract to provide catering services for Kent and Medway NHS and Social Care Partnership Trust has been won by ISS. 50 new food host jobs will be created...

 Read Full Article
Compass Group Agrees to Acquire CH&CO

Compass Group UK & Ireland has proposed to acquire the food business CH&CO. The deal is for an initial enterprise value of £475 million, with the...

 Read Full Article
Sodexo Announces Year-On-Year Increase in Popularity of Meat-Free Meals

Across the 2.7 million meals sold in Sodexo’s UK and Ireland client sites in 2023, 11 per cent were vegan or vegetarian, an increase of one per cent from...

 Read Full Article