Hotchkiss Group has sold its US fire rated duct business to its American partner, Conquest Firespray, in a £2.6m ($4m) deal negotiated through EMC Corporate Finance.
Established in 1885 as a firm of maintenance and jobbing engineers, the Hotchkiss Group has headquarters in Eastbourne, East Sussex and 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. Its expansion into structural steelwork, architectural metalwork and sheet metal led to its specialisation in ductwork contracting.
In the US, Hotchkiss fire-resistant ductwork systems are used by architects, engineers and contractors for installation in high rise commercial and residential buildings, museums, hospitals, research facilities, hotels and banks among 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.'
