The Mace Group of Companies has announced the upcoming sale of its pump trading companies to AxFlow, a Swedish-based family owned group.
The companies affected by this change in ownership are:
- Brown Brothers Engineers
- Brown Brothers Engineers Australia
- Kelair Pumps Australia
AxFlow is the fluid handling solutions business group within Axel Johnson International. It specialises in the marketing, distribution and provision of complete sales and engineering services for high-quality fluid handling equipment. The AxFlow Group is active in 26 countries, it has approximately 700 employees and an annual turnover of €200 million; this is a major acquisition for them expanding into Australasia.
The staff and management are excited to embark on this journey with new owners.
Ted Mace, the current owner, said, “I am glad to hand over the ownership to AxFlow with its long-term ownership view and strong values. It will present new opportunities for the group and its employees, and be a reliable partner for our customers for many years to come.”
Through the change of ownership business will continue as usual. The companies, their legal structure, ABN numbers, bank details etc all remain unchanged. There are no changes to the team and management apart from a title change for the current CEO of Brown Brothers Engineers and Kelair Pumps Australia, John Inkster, who will become Managing Director.
This sale will officially take effect from 1 October 2018 and the goal is to ensure that this transition is as smooth as possible.
John Inkster, CEO, Brown Brothers Engineers and Kelair Pumps, will continue to run the companies after the acquisition.
Ole Weiner, AxFlow Holding CEO, said, “We see a very good match between the Brown Brothers Engineers and AxFlow management culture.
“This is crucial to our ambition to keep people with local expertise in place, while giving the acquired company the opportunities that come with being part of a larger group.”