Flowstream International Ltd – in Administration – Assets for Sale

Tue 13 Feb 2018

Patrick Lannagan and Conrad Pearson of Mazars LLP were appointed Joint Administrators (“the Administrators”) of Flowstream International Ltd (“the Company”) on 12th February 2018.

In light of the limited order book in hand all employees have been made redundant following the Administrators’ appointment.

The Company trades from leasehold premises in Stockport (Unit 5 Station Road Industrial Estate, Station Road, Stockport, SK5 6ND) and operated as an industrial valve design and manufacturer, specialising in control valves and isolating valves for severe service applications in oil, gas, chemical and petrochemical industries of taps and valves.

The name Flowstream has been synonymous with the UK valve industry for decades and was born from the Hunt & Mitton Company, the origins of which can be traced back to 1842. The company developed to become a leading valve manufacturing company in the UK and one of the first members of what today is the BVAA. Hunt & Mitton’s successful globe control valve range was initially called the Flowstream range, which went on to become the new company name. Flowstream’s range of globe control valves has been sold into the oil & gas industry around the world.

The Company’s latest management accounts to 31 March 2017 detail turnover of £693K. The turnover for the prior 3 years was (2014 – £2.2m, 2015 £1.7m and 2016 £786K).  The main asset aside from the plant and machinery is the intellectual property, which includes designs and detailed machining drawings and sizing program for globe control valve range for liquid and gas service and a range of other valve products. The Company has customers and manufacturing partnerships around the world, most recently in Iran and China.

Offers are invited from interested parties who are seeking to purchase the assets and/or business.

Please email Conrad.pearson@mazars.co.uk to request a non-disclosure agreement and further information.