The Hotchkiss Group’s US fire-rated duct business has been sold to its American partners, Conquest Firespray, in a £2.6m deal negotiated with the help of Hove-based EMC Corporate Finance.
Established in 1885 as a firm of maintenance and jobbing engineers, the Hotchkiss Group includes the UK’s air conditioning ductwork contractor and has annual worldwide sales of more than £40m.
Current projects include Tate Modern, the Crossrail station at Canary Wharf, Heathrow Terminal 2A, 20 Fenchurch Street and Fitzroy House.
In the US, its fire-resistant ductwork systems have become the product of choice for many architects, engineers and contractors. Its products are installed in high-rise commercial and residential buildings, museums, hospitals, research facilities, hotels, banks and many others.
Hotchkiss Group managing director Giles Woolley said: “With the UK construction market still very challenging, the sale of our US operation will increase the financial strength of the group.
“We will continue to be involved by providing a development programme for new products for the US market. We will also continue our general development programme and expansion into other overseas markets.”