2001 to present day
HYQUIP was founded by Paul Taylor & Kathy Yates. Incorporated in February 2001, the trading name HYQUIP Ltd was confirmed on the 3rd April 2001. As a startup business, Paul and Kathy had the backing of market leading global brands and the support of Production Equipment founders Edward Lomax and Terry Holt.
22 years on, HYQUIP is an independent owner managed company leading the way in the distribution of Fluid Power Components, Tooling Components, and Industrial Parts, in addition to adding value through engineering solutions. With technical, product, supply chain and market expertise, a loyal and motivated team, continued investment in new employees, and backed by major manufacturers with a global footprint, HYQUIP continues to evolve to meet the needs of its customers.
With a turnover >£4 million HYQUIP is forecasting to double this by 2028, this very much aligned with the vision of its brand partners. Premier distribution status includes Rexroth a Bosch Company, HYDAC, ENERPAC, Carr Lane, Roemheld, miniBooster, Hengst, Aventics and Heypac.
In addition to product distribution HYQUIP has a strong engineering division adding value through system design, power unit manufacture and assembly, site pipework installations, service and troubleshooting works, successfully delivering projects from as little as £1K to >£1m.
1998 TO 2001
February 1998; retirement and succession planning resulted in the sale of Production Equipment. The new incumbent and a new senior management team introduced via a Management Buy-in with venture capital and bank support went on to acquire a further company Hasco Hydraulics Ltd. Now with many competing brands, 4 sites geographically, a less than favourable group debt/equity ratio, a new senior management team combined with economic downturn within manufacturing led Production Equipment into administrative receivership.
Ironically, this event paved the way for Paul & Kathy, both former Production Equipment employees.
1977 TO 1998
Production Equipment Ltd, also known as Production Equipment Hydraulics, PEH or PE was founded in 1977. The company remained a single site organisation serving the North of England as a hydraulic and standard parts distributor, and systems integrator specialising in workholding, industrial automation and hydraulics until 1995.
1995-1998 saw the company acquire two similar businesses with the same product portfolio and restructure into three divisions: component distribution, engineering systems, and site services. Acquisitions included Partridge Hydraulics and JV Hydraulics in the South of England, combined the company doubled sales turnover to £5.5 million.
This success was attributed to many factors including a targeted sales and marketing focus, a complementary product portfolio, support and backing from its manufacturing brand partners, effective integration of three sites operationally and the involvement of key employees.
Kathy Yates was the Operations Manager with responsibility for distribution and the successful integration of new acquisitions and Paul Taylor had responsibility for strategic and operational sales and marketing as Business Development Manager.