Clyde Blowers sells Hydreco to Alcedo-backed Duplomatic

Clyde Blowers acquired Hydreco in 2008 and said it has since broadened the firm's range of products, established a presence in China and expanded in India. It also supported the bolt-on of HHW, based in Australia. Hydreco was separated from sister company David Brown Gears for sale purposes in 2016 and was a portfolio company of Clyde Blowers' £250m Fund II, which closed in 2008 and made six investments.

Alcedo acquired Duplomatic in 2017 from Italian GP Progressio in a deal worth €27m.

Company
Headquartered in Poole in the UK, Hydreco is a designer and manufacturer of precision hydraulic products including low-noise high torque gear pumps, motors, pilot valves and controls, cylinders, and power take-off units. It also has operations in Italy, Germany, Norway, Australia, the US, India and China. It has 112 staff and generates sales of £25.6m.

People
Alcedo – Michele Gallo, Marco Guidolin (partners).
Duplomatic Motion Solutions – Romerto Maddalon (CEO).

Advisers
Vendor – Cavendish Corporate Finance (corporate finance); CMS (legal).
Equity – Deloitte Legal Italy (legal); Gitti and Partners (legal); Bryan Cave (legal); Deloitte (financial due diligence).

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• Topics
• Exits
• Expansion
• UK / Ireland
• Industrials
• Alcedo SGR
• Trade sale
• Acquisition finance