Flowrite

Flowrite

Type: MBO

Total Originally Invested: £1.4 million

Initial Investment: May 2012

Sector: Business Services

Website: View Here

Overview

Flowrite is a refrigeration and air conditioning service, maintenance and installation company, specialising in the leisure sector across the UK

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Company Background

Founded in 1992, Flowrite is a refrigeration and air conditioning service, maintenance and installation company, specialising in the leisure sector across the UK. The Company has a strong reputation amongst its customers for providing quality service and benefits from long term contracts with some of the UK's largest pub groups and restaurant companies. Flowrite is headquartered in Maidstone, and the Company has approximately 90 informed engineers driving branded vans throughout the UK.

Foresight Investment

Foresight invested £1.4 million alongside banking facilities from RBS and Nat West and roll-over investment from CEO Andrew Moore to provide the Company with sufficient working capital to pursue the attractive growth opportunities identified by the strong management team.

Foresight introduced Nigel Atkinson to act as non-executive chairman. Nigel currently holds Non-Executive roles in the manufacturing, leisure and retail sectors, Chairman o Centurion Safety Products ad of Premier Pub Estates. Nigel is well connected within the leisure sector and was a Non-Executive Director of Fuller Smith & Turner plc for six years

Flowrite is often described as the AA of the refrigeration industry. We have always focused on meeting customers' set criteria for all emergency and planned calls in addition to the requirements for pre-planned and on-going maintenance. Naturally this focus will continue, and the introduction of Foresight and Nigel allows us to be more proactive in targeting new customers and offering them the award-winning level of service that our reputation has been built on.

Andy Moore, CEO