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Hunt Thermal Technologies

Date Bought: October 2020

Industry: Engineering

Location: Greater Manchester

“We are excited about the opportunity that this acquisition brings. The business has solid foundations, built on quality products and high levels of customer service.”
Ash Reek, Chairman

Hunt Thermal Technologies Limited was acquired from AIM listed specialist engineering business, TP Group. Headquartered in Greater Manchester, Hunt Thermal Technologies supplies heat exchangers, pressure vessels and other high-integrity fabrications into Oil & Gas, Nuclear Power and Chemical process industries.

The move follows a strategic review of the Group to focus on maximising shareholder value through corporate optimisation to focus on high-technology consulting, digital and bespoke engineering.

Portfolio operator, Ash Reek, appointed as Chairman of Hunt Thermal Technologies comments “We are excited about the opportunity that this acquisition brings. Whilst the business’s core markets have been impacted by Covid-19, the business has solid foundations, built on quality products and high levels of customer service. Hunt Thermal Technologies complements other investments in our portfolio, which will help support the management team, who are motivated to drive the business forward.”

“It’s clear that corporate carve-outs are becoming a prominent part of the investment market – this acquisition is our fifth transaction in as many months. Carve-outs are complex by their very nature, but we have the track-record and the right mix skills and experience to bring pace, confidence and success to everyone involved.” commented Chris Campbell, Head of Investments at Rcapital.

Rcapital was introduced to the business by Deloitte LLP, with support on the transaction received from legal advisors Browne Jacobson LLP.