Carson McDowell Advises Nelson Hydraulics in Sale to Flowtech Fluidpower
09 July 2015
Carson McDowell has advised Lisburn-based Nelson Hydraulics in its sale to the UK’s leading distributor of technical fluid power products, Flowtech Fluidpower.
The deal, which was worth £5.8m, will see Nelson Hydraulics remaining an operationally independent company, but now as part of the Flowtech group it will be able to take advantage of the wider product offer, technical backup and marketing resources available, to bolster its strengths in providing a high quality service offer to its customers in Ireland and overseas.
Nelson Hydraulics designs and manufacturers specialist hydraulic equipment at sites in Lisburn, Dungannon and Dublin.
Dawn McKnight, Partner, Carson McDowell, said: “We’ve acted for the family business for a number of years including assisting with their property arrangements, shareholder arrangements, a group consolidation a couple of years ago and finally this sale of the family business.
“There have been a number of transactions in Northern Ireland recently where the ultimate purchasing Group is owned by a plc and it’s great to see that the region is attracting that sort of attention across a range of business sectors.
Mark Nelson, who has successfully led the company as Managing Director for many years will remain in this role reporting directly the group CEO, Sean Fennon, and will be a new member of the group’s Operational Board.
Speaking of the acquisition he said: “This transaction is a significant milestone for Nelson Hydraulics, which comes after a long and successful period of family ownership. The sale to Flowtech and the opportunities it will generate will position the business for many more years of growth and prosperity.
“Carson McDowell provided us with an extremely professional service during this process. Nelson Hydraulics has been a long term client of the firm and we relied on their expertise and advice to guide us through a smooth sale. We will continue to trade as normal and look forward to working with our customers as we move forwards.”