Avingtrans plc, which designs, manufactures and supplies critical components, modules, systems and associated services for custpomers in the energy, medical and industrial sectors, has announced that its subsidiary
Hayward Tyler Fluid Handling Ltd has completed the acquisition of certain assets of
Slack & Parr Ltd from administration, together with Slack & Parr’s overseas subsidiaries in the USA and Asia, for a total consideration of £4.9 million.
Slack & Parr is a family-owned manufacturer of specialist pumps and a market leading supplier of high-precision gear metering pumps, hydraulics flow dividers and industrial pumps to customers around the world. Founded in 1917, it has a strong track record in supporting global blue-chip OEMs and end users, with a large installed base, supported by service facilities in the USA and Asia.
The company operates from a 64,000ft
2 ‘state of the art’ manufacturing facility in Kegworth, Derbyshire, and it also has facilities in Charlotte, North Carolina and Shanghai, China. The acquisition has secured the employment of 100 skilled people.
Slack & Parr entered administration on 3 July 2023, following ongoing losses and funding issues. The last audited annual accounts to March 2022 reported revenue of £13.6 million and a loss before tax of £1.9 million. Avingtrans will also acquire the trade, IP, fixed assets, stock and investments in Slack & Parr’s US and China subsidiaries. The acquisition is expected to strengthen Slack & Parr’s market presence, improving operational efficiency and reinforcing its position as a leading force in the gear pump market, embracing innovation and delivering world-class products and services.
Austen Adams, divisional managing director at Avingtrans, said: “We are pleased to have completed this acquisition, which brings another globally respected, British heritage brand under the direction of the Avingtrans team. The sorts of challenges this business has faced are familiar to us and we are experienced in resolving them, having successfully turned around other businesses under similar circumstances. Slack & Parr’s global footprint, combined with its well-invested operational capability, powerful brand, highly skilled workforce and large installed base provide a great opportunity to re-establish the business on a firm footing going forward.”
Edward Barrington, Slack & Parr managing director, added: “We are delighted to be part of Avingtrans and eagerly anticipate the opportunities this partnership will unlock for the business. Together, we are confident we can build on our heritage of precision engineering and continue to provide our clients with the quality and reliability they have come to expect from us.”