UK-based buyout house Gresham Private Equity has completed a full exit of its investment in Flowtech Fluidpower through its IPO on London’s AIM market.
The listing gave Flowtech a market cap of £40m, with Gresham making £100,001 through the sale of its 100,001 shares.
Gresham backed a management buyout of Flowtech in 2004.
The company provides fluid power products including pneumatics, hydraulics and industrial hose designs.
It had revenues of almost £35m last year, and an operating profit of £4.3m.
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