Flowtech helped onto AIM by Zeus Capital
28th May 2014
Zeus Capital has acted as nominated adviser and sole broker to Flowtech Fluidpower, the UK’s leading distributor of fluid power products, on its AIM IPO and £40m institutional fundraise. On admission, Flowtech had a market capitalisation of £40m.
Flowtech was founded in 1983 and employs 160 people through operations in the UK, Netherlands and a logistics centre in China. The company supplies 3,000 distributors and resellers, with an unrivalled range of Original Equipment Manufacturer and own-brand products, containing approximately 47,000 individual product lines.
The net proceeds of the placing will be used to repay senior debt and will see the entire exit of Gresham Private Equity which has supported the business since 2004.