A Huddersfield-based manufacturer of hydraulic equipment is on track to more than double its growth after kickstarting an expansion plan to it’s current offering.
Read time: 4 mins Added: 03/03/2022
In 2021, the business acquired the Washington-based Cylinder Service Centre (CSC), which helped to broaden the manufacturer’s offering with its specialisms in hydraulic cylinder repairs.
Since the buy-out, Hystat has seen rapid growth and turnover is expected to increase by 60% year-on-year. The business has also boosted headcount from 96 to 110 across its Huddersfield and Washington sites.
And now, with support from Lloyds Bank, Hystat is also looking to further expand it’s site by purchasing CSC’s currently rented premises, which will bring key operations in-house, such as boring and honing services.
Managing Director, Simon Wadsworth said: “Our products are playing an increasingly critical role in supporting the transition to green and renewable energy sources, meaning it’s important that we continue exploring opportunities to expand and diversify our offering.
“Through this purchase, and through the additional financial firepower it lends us, we can ramp up activity across key services and significantly grow our output, helping us to support engineering best practice across a growing customer base.”
Relationship Director, Alexandra Butterworth said: “Simon and his team have built Hystat into the UK’s leading manufacturer of hydraulic equipment. Growing steadily through a series of acquisitions over the years, the business is now ideally placed to consolidate its market share, with its investment allowing it to free up additional cash flow and focus on expanding organically.
“We look forward to continuing to back the team’s ambitions in this next phase of their journey.”
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