Yorkshire based advisers play leading roles in sale of industrial hose repair specialist to Canadian listed company

Hydraquip Hose and Hydraulics has been sold to Finning, which is listed on the Toronto stock exchange.

Hydraquip specialises in providing nationwide coverage for hose replacement, assembly and fitting, oil replenishment and general hydraulic servicing.

Duncan MacBain, Founder of Hydraquip said “Joining Finning is an extremely exciting move for Hydraquip and will prove a critical step in the continued growth of our offering, enabling Hydraquip to recognise its full potential in the UK and further afield. We can see many cultural similarities as well as tremendous opportunities between the companies to give customers an even stronger proposition.”

Tim Ferwerda, Managing Director of Finning UK & Ireland added “The acquisition of Hydraquip demonstrates our commitment to build on and extend our reach to provide exceptional product support and aftermarket services for our customers. The company is a great fit with Finning, in terms of its family-orientated and customer-focused culture, which complements our current product support service perfectly. The Hydraquip brand name will remain in place as we maintain and build upon the high standards of service it is known for.”

A Leeds- based team supported the shareholders in relation to the transaction. Sentio Partners acted as lead adviser (Andy Miller and Andrew Barlow), with Addleshaw Goddard (Carly Gulliver, Richard Hunt and Aidan Barry) providing legal advice.

Commenting on the deal, Andrew Barlow of Sentio said: "From our first conversation with Finning, the strategic rationale for the acquisition of Hydraquip was clear to see. It has been a pleasure to advise the shareholders."