Lisburn family-owned hydraulics business sold for £5.8m
Lisburn firm Nelson Hydraulics has been sold to a Lancashire firm in a deal worth £5.8m.
The deal was completed by Belfast advisory firm HNH Group, which sold the company to Flowtech Fluidpower plc.
As part of the deal, Mark Nelson, who has led the business for the past seven years, will remain as managing director.
"This transaction is a significant milestone for Nelson Hydraulics, which comes after a long and successful period of family ownership," he said.
"The sale to Flowtech and the opportunities it will generate will position the business for many more years of growth and prosperity.
"HNH was instrumental in helping us to realise our ambitions, through managing the sale of our family business in a sensitive and professional manner."
Richard Moorehead and Wayne Horwood advised the shareholders on the sale.
Mr Horwood said that Nelson Hydraulics is a "business with an international presence".
"We were delighted that the shareholders engaged us to assist them in realising their investment. We're confident that the business has everything it needs to continue to thrive."