Flow Control Water Conservation Ltd
Abingdon
About Flow Control Water Conservation Ltd
Established in 1978, Flow Control provides a broad range of services related to water resource management for industry and the water utilities in the United Kingdom. It has a staff of approximately 300 and is currently based in offices in Liverpool. Flow Control’s current clients include most of the major water companies in England & Wales and has contracts with a number of these stretching into 2005 and beyond. Flow Control will, upon acquisition, be operated as part of RPS Water Services and integrated by relocating from Liverpool to RPS’s existing premises in Warrington. Employment contracts have been agreed with the two vendors, who act as the Managing and Operational Directors of the business, for their employment with RPS, for a minimum of three years. In the year ended 31 March 2004 Flow Control (excluding the non-core product distribution business, which is not being acquired) had turnover of £9.5 million and profits before tax, adjusted for non-recurring bonuses, of £1.2 million. Net assets at that time were £1.5 million, with negligible debt. The maximum total consideration payable for Flow Control is £4.9 million. At completion the vendors received £4.2 million in cash. Assuming certain operational conditions are met, a further £0.7 million in cash will be payable over the next three years.
Company Facts
- Operating status: Active
- Company type: For Profit
- IPO status: Private
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