An acquisitive Lancashire-headquartered group has itself been snapped up by an international giant in a deal worth in the region of £100m.
R&G Fluid Power, which is headquartered near Preston, has been bought by Diploma plc.
The firm is a distributor of a range of industrial, hydraulic and pneumatic products and was originally established in 2000 by Chris Ford as Millennium Coupling Company.
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The R&G Fluid Power Group was formed in 2017 by Chris Ford and Brian Scowcroft to acquire the whole of the MCC group.
So far this year, the group has announced the acquisitions of Rubberlast Group, Hydraulic & Offshore Supplies and Lancashire Hose & Fittings.
In a statement, London Stock Exchange-listed Diploma said: "R&G has significant organic growth potential, including: developing the aftermarket e-commerce channel, continued regional expansion in the UK, and further product cross-selling and diversification.
"The business gives the seals sector scale in the UK and the ability to drive revenue synergies with existing UK Seals businesses. We are also excited by the broadening of the Seals product capability, in line with our strategy to expand addressable markets through product extension, with the potential to take this to other markets in the future.
"An active pipeline also positions R&G well to continue to deliver on acquisition growth. Following the acquisition, R&G's experienced and highly capable management team will remain with the business."
Diploma added that a further deferred consideration of up to c.£7.5m is payable within nine months subject to the completion of certain acquisitions advanced in the pipeline.
