Affiliates of the Gates Corporation have announced the acquisition of UK-based GTF Engineering and Services, the owner of the assets of Techflow Flexibles. Techflow Flexibles is a fully integrated engineering, manufacturing, and commercial operation that specializes in supplying flexible hoses and couplings to the oil and gas exploration and production industry. Its product lines include quick-connect couplings, hydraulic BOP control hose, and hydraulic tensioner and compensation hose.
“The Techflow model is a perfect fit for the Gates Oil & Gas business,” said Claude Durocher, Global VP of Oil & Gas. “The acquisition provides a strong product portfolio, advanced technology, and manufacturing resources. Combined with a solid new product development track record, these will be strong additions to our global Oil & Gas capabilities.”
Gates has expanded its product capabilities with Techflow’s full suite of highly specialized high-pressure hoses. Gates has also enhanced its ability to make and supply long-length and large-diameter hoses. The combined Gates and Techflow portfolio of products now provides nearly complete coverage of high-performance land and off-shore applications. Additionally, the company’s fully-integrated product development team brings broad experience in the engineering, certification, and commercialization of sophisticated product designs.
The acquisition marks an important step for Gates in its strategy of targeting key global markets that it believes are poised for significant future growth.