Investment from FW Capital set to transform Quick Hydraulics’ future
With a new management team in place following a recent
management buy-in (MBI), a Tyneside hydraulic systems manufacturer
has expansion in mind thanks to a six figure investment from FW
FW Capital, which manages the North East Growth Plus Fund,
invested in Quick Hydraulics which originally began trading as a
product distributor in 1977.
The company has expanded in the last 30 years to become the
North East’s most respected hydraulic systems manufacturer.
Quick Hydraulics is a leading technology expert in hydraulic
system design, manufacture, installation, service and training,
with an experienced high calibre team and well established
relationships with a customer base operating in the UK’s
automotive, defence, energy, hygiene, marine and oil and gas
“We’re delighted to have taken over the helm of an established
business with such a progressive reputation as Quick Hydraulics.
The company has changed greatly since it was first established and
is in an excellent position today. It has many long-standing
customers as well as a great product range,” explained Andrew
Esson, the company’s new managing director.
The new management team now has big ambitions to exploit the
company’s existing range of products and services by diversifying
into new markets and territories. New product and service
development is also planned and a process improvement drive will
also increase efficiency and improve customer service.
“We’re a new management team eager to get some of our plans off
the ground. Quick Hydraulics provides specialist products and
services and there are many potential new expansion opportunities
for us to target. FW Capital’s investment provides us with the
capital we need to achieve our plans,” Esson continued.
FW Capital stepped in once the MBI had been completed to
structure an investment that provides Quick Hydraulics’ new
management team with the capital for their expansion.
“Quick Hydraulics is very well established and has been a firm
fixture on Tyneside for many years. The new management team have an
excellent business to build on and FW Capital’s investment will
play a crucial role in its future success.
“Once the new management team had secured the investment for the
MBI from other investors, we structured a deal to provide the
capital to drive forward their growth plans,” explained FW Capital
investment executive, Rob Jones.
Michael Smith and Jason Kirkbride of advisers Tait Walker
referred the deal to FW Capital.
Michael Smith said: “We are delighted to have achieved a great
result for Andrew. He is a very capable individual and we fully
expect him to deliver strong growth to Quick Hydraulics. I and the
team at Tait Walker would like to wish Andrew every success with
this venture and hope we can combine our talents with his again on
FW Capital’s Newcastle-based team has built up an effective
“Advisers like Tait Walker are a good source of referrals for
us. We’ve built up a strong network in the North East and we want
to work with more banks and advisers. We have different investment
criteria to the banks for instance and this can be good news for
many businesses,” Jones explained.
Rob Jones can be contacted on 07717 802 978 or 0191 350 6316 and
is based at FW Capital’s Newcastle office at Cuthbert House, City
Road, All Saints, Newcastle upon Tyne NE1 2ET.
FW Capital has made the investment from the £20 million North
East Growth Plus Fund which is part of the £125 million Finance for
Business North East Fund.
The North East Growth Plus Fund is targeted at established
businesses in the region and can provide single-round investments
of between £350,000 and £1.25 million.
Advisers on the deal were: Ward Hadaway (legal to FW Capital),
Watson Burton and Tait Walker (legal and corporate finance to the