Grant Thornton advises Flowrite Refrigeration Holdings Limited

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December 2019

Flowrite Refrigeration Holdings

Adviser to Flowrite Refrigeration Holdings on their sale to Airedale Group

£undisclosed

Grant Thornton team

Usman Malik
Head of Business services, Corporate Finance Advisory

Facilities management

Sell side

Corporate finance

We are delighted to have advised Flowrite Refrigeration on their sale to Airedale Group.

Founded in 1992, Flowrite Refrigeration Holdings Limited is a leading, national provider of integrated refrigeration and air conditioning services. Flowrite has grown to become a best-in-class technical mobile services provider within the hospitality & leisure sector, overseen by private equity house Foresight as part of their initial investment in 2012.

Foresight engaged us to act as lead advisors on the disposal of the company.

Airedale Group, backed by Horizon, represented a strong commercial fit for Flowrite, bolstering its existing technical mobile capabilities and acquiring a complimentary blue-chip customer base.

Our role on the transaction was lead advisor, seamlessly supporting the transaction end-to-end up to negotiations of the completion mechanism and drafting support on the legal documentation. We utilised our strong international network and deep-rooted sector knowledge within the FM HVAC subsector to approach trade parties that possessed strong synergistic value.

Testimonial

“The Grant Thornton corporate finance team provided us with exceptional advice throughout the process. The team combined sector knowledge with technical deal expertise to deliver a positive result for the shareholders. We would like to thank the team for their tenacity and determination throughout the process.”

Tod Harrison CEO, Flowrite