Harrison Drury advises Tecflo founders on sale to Sweden's Teqnion

Harrison Drury Corporate team advises founders of Tecflo on sale to Teqnion.

Harrison Drury has advised Geoffrey and Elaine Wood, founders of Manchester-based beer dispensing equipment manufacturer, Tecflo, on the sale of the business to Swedish industrial group Teqnion.

The acquisition extends Teqnion’s UK portfolio, which includes manufacturers of refrigeration equipment and specialist industrial components, and provides a long-term home for Tecflo following four decades of founder ownership. Tecflo will join Teqnion West, the group’s division covering the UK and Ireland.

Our corporate team, led by partner Jack Stephenson and supported by Legal Apprentice Louisa Procter, advised the founders throughout the transaction, including arrangements that will see Geoffrey remain with the business to support the transition.

Founded in 1986, Tecflo designs and manufactures equipment for brewers, pub groups and drinks businesses in the UK and overseas. It operates from a 9,400 sq ft factory in Little Hulton, Manchester, and employs around 20 people.

The business serves more than 100 active clients across over 40 countries, with some relationships spanning over 30 years. It has generated average annual revenue of around £4.5 million over the past three years.Founded in 2006, Teqnion is a Swedish industrial group, trading on Stockholm’s Nasdaq First North Growth Market. It acquires established specialist businesses with no planned exit, allowing them to operate independently with strategic and financial support from the group.

The company has over the last 12 months reported a revenue around SEK 2 billion across and has to date close to 50 subsidiaries including just north of 20 companies in Teqnion West.

Speaking on the sale, Tecflo managing director, Geoffrey Wood, said: “After almost four decades of building this company, what mattered most to Elaine and myself was that it went to the right owner, for the sake of the business and everyone in it. Teqnion is that owner. I am glad to be helping the team and [Teqnion] to elevate Tecflo on from here. This is the start of something new, and I am confident it will be a good chapter.”

Jack Stephenson said: “Geoffrey and Elaine have spent four decades building a manufacturing business with its own products and enduring customer relationships. Choosing who would take it forward mattered to them, and Teqnion’s long-term approach, alongside Geoffrey’s involvement during the transition, offers continuity for the business.

“It has been a pleasure to advise the founders of a specialist manufacturer rooted in the North West and serving customers internationally. Tecflo demonstrates how skills and relationships developed locally can build a business with a reach far beyond the region.”

The Tecflo sale highlights the decisions facing founders as they plan for a change of ownership and the future of the business they have built. Across the North, Harrison Drury combines corporate legal advice with an understanding of owners’ priorities, helping them prepare for a sale, navigate the transaction and agree arrangements for the next chapter.

To discuss buying or selling a business, contact our corporate team on 01772 258321.

Jack Stephenson