Waterfront Fluid Controls acquired by Indian group

Peter A Walker
·2-min read

Glasgow-based Waterfront Fluid Controls has been acquired by Jash Engineering.

Jash has purchased an 80% stake in Waterfront, which has seen a 25% increase in export sales over the last 12 months.

Waterfront was founded by Neil Betteridge in 2006, following the expansion of his former business, Waterfront Engineering Services, which he set up 10 years earlier.

Betteridge, who moved from installation work to manufacturing and supplying fluid control equipment, has worked with Jash since 2013, becoming a major purchaser of its products after winning a contract with Thames Water on the Thames Tideway Tunnel.

Jash Engineering was established in 1973 and has its headquarters based in Indore, India, as well as four manufacturing facilities across India and one in the US. It also has bases in Austria and Hong Kong, and exports products to more than 45 countries worldwide.

As a result of the acquisition, there has been a £500,000 investment in the new UK arm of the business, which will see the factory expanded and a full office refurbishment.

Betteridge said: “The business has grown arms and legs now, all our colleagues have remained in the business and we’re employing new staff to carry out the additional manufacturing elements here in Glasgow.

“It’s a massive expansion, Jash is already well established and this is an avenue into the UK and markets they’ve not had before.”

Betteridge and Liz Niven, director of operations, will continue in their positions and retain shares in the business.

He added: “I was a man with a bag of tools essentially, carrying out installations on site of the products that we now manufacture.

“I worked for all the major manufacturers at the time, carrying out installation work and after several years I recognised there was an opportunity to have some market share.

“I worked with some designers and we introduced new material to the marketplace and that’s when I founded Waterfront Fluid Controls - I’ve been to speaking to Jash for many years about shared equity; they approached us and it was the perfect time.”

Armstrong Watson’s corporate finance team advised on the deal, with Betteridge also supported by Holmes Mackillop solicitors.

KNAV, Aventus Partners and Healys solicitors advised Jash Engineering on the transaction.

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