Flowstream International Limited (03217067): administration
- Status
- Administration ended
- Administration began
- 2018-02-12
- Administrators
- Patrick Alexander Lannagan, Conrad Alexander Pearson
- Administrators' firm
- Mazars
- Incorporated
- 1996-06-26
- Location
- Manchester
- Industry
- 28140 Manufacture of taps and valves
Why it went into administration
- Cash flow / liquidity pressure
- Sustained trading losses
- Creditor pressure / legal action
- Property / lease costs
From the administrators' statement
The origins of the business can be traced back to 1842 when it made industrial valves for water and steam services and became ‘Hunt & Mitton Co’ in 1874. Throughout its history Hunt & Mitton has been at the forefront of development in the UK valve industry and was a founder member of the UK valve manufacturer’s trade association when it was formed in 1939.
In the 1960s the business manufactured the first all British Process Control valve range including the ‘Flowstream’ range of control valves competing with American contemporaries. Through the 1970s and 1980s, the business had several owners until production virtually ceased and the product designs and assets were acquired by a former manager in 1996. Flowstream International Limited was incorporated in 1996 initially with the purpose of manufacturing and supplying spare parts for the benefit of the existing valve installations.
When the then owner retired in 2009, the Company was acquired by its current parent, Flowstream Limited. Under new ownership, the Company relocated to leasehold premises at Unit 5 Station Road Industrial Estate, Station Road, Stockport SK5 6ND and in 2010, started to manufacture complete valves once more. With a range of Flowstream control valves and the Hunt & Mitton hazardous chemical valves, the Company supplied control valves for companies in the global oil & gas, chemical & petrochemical industries.
Administrators' statement of proposals (2018-04-20) · Companies House register