Finning Expands with the Acquisition of Hydraquip

Finning International Inc announced the acquisition of Hydraquip Hose & Hydraulics Ltd. and Hoses Direct Ltd. for approximately £65 million, net of cash acquired, subject to normal post-closing adjustments and before deferred contingent consideration.

Hydraquip is the UK’s second largest hydraulic hose replacement and repair company with a strong industry brand and track-record of profitable growth. Hydraquip has 270 employees nation-wide serving more than 4,000 customers across a diverse range of industries, including construction, power systems, transportation, waste management, utilities, manufacturing, and materials handling.

In 2021, Hydraquip generated over £26 million in revenue and £7.2 million in Adjusted EBITDA. Approximately 60% of Hydraquip’s revenue comes from on-site mobile hose services, including hose replacement, assembly and fitting, oil replenishment, and general hydraulic servicing. Hydraquip operates 130 mobile service vans with trained technicians providing 24/7 coverage across the UK. The remaining 40% of Hydraquip’s business is focused on selling hydraulic and fluid power products and parts via a network of 27 branches and online.

Courtesy of Finning International Inc. 

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