Sheffield's Atlas North Holdings purchases two complementary businesses in Hull and Long Eaton

Sheffield-based Atlas North Holdings - which owns Pneumatic & Hydraulic Couplings Ltd (PHC) - has bought businesses, AirCat Limited and Special Air Services Limited.

PHC buys and sells pneumatic, hydraulic and transmission equipment across the UK.

The purchase of Hull-based AirCat Limited will add the distribution rights to products from global fluid power manufacturer, IMI Precision Engineering.

The combination of the two businesses will increase the group’s product portfolio and also greatly enhance the buying ability of the group.

Speaking about the purchases, managing director of Atlas North Holdings, Paul Gate, said: “PHC has enjoyed enormous success over the past few years and we were keen to accelerate that growth.

“Therefore the opportunity to buy both AirCat and Special Air Services came at exactly the right time. Both companies have a great reputation in the market and loyal client bases.

“In addition the three companies working together will create an extremely strong group that will enable us to provide our customers with a full and comprehensive service and maintenance package.”

Established in 1993 by Peter Crookes, PHC was bought by the management, consisting Paul Gate, Andrew Sleney and Stephen Tupling in June 2016, as Atlas North Holdings.

The equal shareholders have since increased the turnover of PHC from £1.7m to a projected turnover of £2.5m this year.

Following the purchase, AirCat’s current directors, Matthew Orriel and Peter Meakin, will remain with the company for the next six months to ensure an ‘easy’ handover. All the remaining jobs across both companies will remain.

Accountancy and corporate finance advice to Atlas North Holdings was provided by Kevin Gregory of Sheffield-based Transact Corporate Finance.