UK-pump specialists, Hydromarque Ltd, is set for significant expansion following its acquisition by a specialist private equity backer.
BCF Equity Partners has acquired Peterborough-based Hydromarque in a deal totalling £2.7m.
Hydromarque is an exclusive UK distributor of Gorman-Rupp, Cornell and Wallwin pumps across a range of industries including water and food production.
Following acquisition, BCF is now looking to significantly grow the business and increase market share as the pump industry moves away from submersible products towards above ground pumps.
The acquisition was supported by Shawbrook Bank via a £1.4m commercial loan.
Rob Newcombe, Managing Director of Hydromarque Ltd, said: “We are delighted to have gained the support of BCF Equity Partners as we look to take the next step in the Hydromarque journey. We have high ambitions to grow the business and bringing on board a professional investor to support that will add real value to those efforts.”
Simon Stephenson, a Director at BCF – an independent private equity house specialising in investing in growth businesses valued between £3m and £10m – said: “Hydromarque is a consistently strong performing business that benefits from strong supply chains and a wide customer base.
“This investment in Hydromarque required the support of a lender who can make sensible judgments and execute quickly and working with Shawbrook has provided everyone involved with certainty and the confidence to press ahead. We look forward to working with the Hydromarque team through its next chapter of growth.”
Steven Armstrong, a Director within Shawbrook’s Corporate Lending business, said: “As a private equity house, BCF is highly regarded by Shawbrook and we’re delighted to work with them on this investment. With pumps being found in the majority of industrial applications, Hydromarque has access to a large national marketplace to underpin its future growth and we are excited to be able to play a part in the success of the business following this acquisition.”