Eriks nv, Wyko's parent company, is to acquire Flexible Hose Supplies (FHS) in the UK. The acquisition is part of Eriks' strategy to have a strong market share for its core activities in regions where the group has its own branch network.
Flexible Hose Supplies is a leading manufacturer and supplier of bespoke hose assemblies, hose, tubing, ducting and fittings from its three UK sites in Slough, Northampton and Bolton. With a total of 45 employees, FHS has annual sales of £5.1million. FHS' target market dovetails perfectly with Eriks UK's strategy to target both MRO and OEM customers. For MRO sales, FHS is particularly focussed in the food, specialist chemicals and petrochemicals sectors. In the OEM market, FHS serves many high-tech customers in markets such as fire safety, communications and healthcare. With the addition of the Eriks product portfolio and its technical expertise, these market opportunities will be widened considerably.
Following the acquisition of FHS, Eriks UK plans to develop a technology centre for specialist and industrial hoses, providing know-how directly to OEM and MRO customers and serving the branches of Wyko, an Eriks company, as a knowledge-driven distributor giving industry easy access to technical specialists.
Gary Shaw, Managing Director of FHS, says of the acquisition: "This is a totally positive move as far as FHS is concerned. The acquisition by Eriks will bring investment as well as access to an enlarged customer base. The benefit for Wyko customers will be access to high-quality products supplied by a specialist company. We are hose people and our know-how will enable the branches to meet the needs of their customers in a way which they have not been able to previously."
For more information about FHS visit www.flexiblehose.co.uk.
For more information about the Eriks Group, visit www.eriks.com