Hawco Limited, a leading distributor in the refrigeration industry has been sold to Bay Tree Private Equity LLP.
The deal incorporating Abbeychart, well established in the liquid dispense industry, sees the business purchased by Bay Tree from previous owners of 20 years, Diploma PLC.
The Hawco group sells a wide range of industry leading products and has rebounded strongly from the pandemic achieving record revenue in its latest financial year ended September 2022.
Bay Tree intends to invest in Hawco to enable the business to take advantage of the opportunities to reach the next level of growth in both the UK and Overseas markets.
Martin Butler, managing director of Hawco Limited, said: “This is an incredibly exciting time and a huge opportunity for the business. It will bring the tools needed to build further on the value-add services we offer, ensure we have the most up to date product offerings for our customers and expand on the success of our international sales, an area that is now core to the business”.
Bay Tree further adds: “We are delighted to be supporting Martin and his team to complete the management buyout of Hawco. We have been impressed by Hawco’s depth of technical support for customers and by its strength in supplier relationships. Its resilience was proved during lockdown and with access to funding we believe it can build on this strong foundation”.
Established in 1973, the acquisition coincides with Hawco celebrating 50 years of trading.