The Duncan family, founders of hydraulic hose franchise
platform, Pirtek Fluid Transfer Solutions, has acquired Pirtek USA.
The acquisition of Pirtek USA creates further synergies
across the Pacific, while strengthening Pirtek’s existing partnerships in
Africa, Canada, China Mongolia, New Zealand and Singapore.
“As a group, this will allow Pirtek to broaden the
customer base with a high level of corporate strength and stability, while
increasing market share, setting long term objectives and outcomes that we can
all be proud of,” said Pirtek International Director, Glenn Duncan in a
He told BRW that the purchase is significant because of the
huge growth potential of the US franchise.
“You can quite quickly see 300 stores, 5000 mobiles and you
really haven’t scratched the surface,” he said.
He estimated that the US division will generate annual earnings
growth of 20 per cent, a result which is no longer possible for the company to
achieve in Australia.
The Pirtek Franchise model, which was established in
Australia in 1980 by the Duncan family, has been recognized as one of the
premier franchising formats around the world.
There are over 400 PIRTEK Service and Supply Centres and
Mobile units globally, 97 of those in Australia. Pirtek USA opened its 50th
Centre in Milwaukee earlier this month.
The purchase follows Pirtek Fluid Transfer Solutions’ recent
unsuccessful attempt to buy back Pirtek Europe Holdings. Private equity firm the Halifax Group was the eventual successful party in that deal.