# Flowtech acquires struggling pneumatics provider Thorite for £350,000

Fluid power supplier Flowtech has agreed a £350,000 deal to acquire the assets of pneumatics and fluid products provider Thorite, including equipment, vehicles, stock and locations, and has paid off Thorite's £1.7m debt.

- Type: Acquisition
- Announced: 2024-08-27
- Where: United Kingdom
- Value: $445K (350K GBP)
- Status: announced
- Products: pneumatics, fluid power products, compressed air equipment
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md), [Automation and Robotics](https://endata.com/sectors/automation-robotics.md)

## Companies

- [Flowtech](https://endata.com/companies/12197.md) (acquirer)
- [Thorite](https://endata.com/companies/12198.md) (target)

## Sources

- [cityam.com](https://www.cityam.com/flowtech-buys-out-thorite-as-struggles-continue/), 2024-08-27: "Flowtech will acquire Thorite's equipment, vehicles, stock, and other assets."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.