Legal help is breath of fresh air for Flowrite
and air conditioning company has completed a management buyout with
help from three other Kent firms.
Flowrite Services, based in Maidstone, was helped by the
corporate teams at Crowe Clark Whitehill and Vertex Law.
The company secured a £1.4 million investment from Foresight
Group, a private equity firm in Sevenoaks, with additional funding
The MBO enables Flowrite to build on recent growth, with CEO
Andy Moore remaining in the role and supported by Nigel Atkinson, a
non-executive chairman introduced by Foresight.
Mr Moore said: “Flowrite is often described as the AA of the
refrigeration industry. We have always focused on meeting
customers’ set criteria for all emergency and planned calls in
addition to the requirements for pre-planned and on-going
“Naturally this focus will continue, and the introduction of
Foresight and Nigel allows us to be more proactive in targeting new
customers and offering them the award-winning level of service that
our reputation has been built on.”
Foresight’s senior investment manager Matt Smith said: “The team
at Crowe Clark Whitehill worked very hard to get this deal
completed whilst ensuring that it was an amicable, smooth
Geert Struyven, CCW corporate finance partner, added: “This
transaction highlights the continuing appetite there is for
investing in well-managed companies whilst offering Flowrite the
opportunity to build upon the success already achieved.
"We were also pleased that the transaction remained local with
both Foresight and Flowrite being based in Kent.”
James Beatton, head of corporate at Vertex Law, said: “This
transaction gives Andy the opportunity to drive the business
forward with a focussed and motivated set of partners on
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