Springboard is delighted to announce that it has advised the shareholders of Whitehouse Industries on the sale of Flotronic Pumps to Unibloc Pump, a US-based provider of sanitary flow control solutions backed by US private equity firm May River Capital, for an undisclosed sum. This follows Springboard advising Whitehouse Industries on the acquisition of Flotronic in 2019.
Founded in 1990, Flotronic Pumps is a specialist air operated double diaphragm manufacturer, that serves more than 1,000 global companies operating manufacturing facilities of iconic brands in food and beverage, consumer product goods, cosmetics, pharmaceuticals and other critical process manufacturing.
Whitehouse Industries, founded by founded by Midlands-based serial entrepreneur Stuart Whitehouse, acquired the business in 2019 since when the manufacturer has recorded significant growth in Europe and North America, and seen profitability more than double.
The Shareholders of Whitehouse Industries were advised by Springboard Partner David Neate and Assistant Director Jamie Berry. David commented “This transaction is truly complementary and will provide additional opportunity for both Unibloc and Flotronic Pumps. An exciting future lies ahead for both businesses. This deal also demonstrates the attractiveness of the UK market in the post-Brexit environment. International buyers particularly from the US still view the UK as a gateway to Europe. This is the third transaction we have advised Stuart on and we are delighted to have delivered a great outcome for him.”
Stuart Whitehouse, CEO of Whitehouse Industries
Having previously worked with Springboard on both the sale of Heads & All Threads and the acquisition of Flotronic Pumps, I had no hesitation to use them again on this transaction. They are a valued member of my team, always very supportive and provide excellent commercial advice. I look forward to working with them on the next transaction.