Salisbury-based Flowplant Group, a leading provider of high-pressure jetting and pumping solutions, has announced a significant milestone in its corporate history with the completion of a management buyout.
On June 23rd, 2023, Steve Smith, Edward Miles, and Barry Pidgeon, the dedicated management team, finalised the acquisition of the entire share capital of the Flowplant Group through their newly formed entity, SSPM Holdings Limited.
Under the leadership of Steve Smith, majority shareholder and now Group Managing Director for SSPM Holdings, the management buyout signals a new chapter for the company (which will keep the Flowplant Group name).
Edward Miles, whose contributions have been instrumental in driving improvements, will be promoted to the role of Engineering Director, overseeing the Rolls- Royce Project, Quality, and Engineering Department. Barry Pidgeon will continue his work as Sales Director, ensuring continued growth and customer satisfaction within the Sales and Service team.
Simultaneously, in the United States, Jennifer Pederson, CEO, has acquired a minority shareholding in Harben Inc, further solidifying the company’s commitment to growth and excellence in the American market.
Previous incumbents Alistair Hiscock and Mark Bastable have resigned from their positions as officers and directors in all group companies. While Alistair Hiscock has retired from the company, his valuable expertise will be accessible through ad hoc consultancy projects. Mark will remain as an advisor to the board, providing valuable guidance during the transition into the new ownership.
Steve has expressed his gratitude to Mark and Alistair for entrusting the management team with this opportunity, and he vows to dedicate every effort to ensure the continued success of the company and job security for its employees.
Mark said, “Alistair and I, have thoroughly enjoyed our time leading Flowplant to the successful position it holds today. We have weathered numerous challenges and built a fantastic team and product offering. It is now time for us both to hand over the reins to Steve and his team. We wish them every success for the future and trust that they will continue where we have left off, taking Flowplant to the next level.”
Steve expressed his gratitude, saying, “I would like to extend my sincere gratitude to Mark and Alistair for this opportunity. They have both created a stable, profitable company with Flowplant and Harben Inc. It is an honour that they have entrusted myself and the new management team to lead the business into the future. With a diverse mix of experience and expertise, our team is energised and excited to build upon the foundation they have laid. As we embark on this new chapter, we bring a fresh perspective and a shared commitment to driving innovation and growth. Together, we will reach new heights and achieve even greater success.”
Pictured above: (left to right) Barry Pidgeon, Sales Director, Flowplant Group, Steve Smith, Group Managing Director, Flowplant Group and Edward Miles, Engineering Director, Flowplant Group