BMI Hose acquires Hiflex from administrators - Management Franchises in the UK

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	BMI Hose acquires Hiflex from administrators
Press release date: 23-Oct-2008 BMI Hose (Europe), has acquired the distribution and service assets of Hiflex Fluidpower. Hiflex Fluidpower which supplies hydraulic hoses and compression fittings, went in administration last week, blaming tough trading conditions. The company which started as Oil Feed Engineering in 1941, had been bought by its management for £635 million in 1997 and became Unipoly. A subsequent management buyout took place in 2004 when the company changed its name to Hiflex Fluidpower. It employs 125 people at 14 sites nationwide. The acquisition will create up to 20 new jobs in Wolverhampton, in the coming months, at the BMI head office and the premises will have a further £250,000 investment to add capacity to the warehouse and distribution system. BMI Hose currently has 4 operating centres in Newcastle-upon-Tyne, Dudley, Reading and Bristol. The acquisition will add 14 depots to the BMI network. Founder of BMI Hose, Simon Moxham, said after concluding the deal: "This opportunity came at exactly the right time for us. With this acquisition we have a viable network of 18 centres that means we can provide an excellent 24/7 service for more local customers and for the larger accounts that need national coverage. Within less than a year we've become the second largest player."

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BMI Hose acquires Hiflex from administrators - BMI Hose Management Franchise Opportunity