Diploma has sold Hawco to Bay Tree Private Equity


Hawco is one of the UK’s leading value-added distributors of HVAC/R, drinks dispense and vending machine components selling through the Hawco and Abbeychart brands. Its value-added services include bespoke product solutions, specialist workshop services, kitting services and next-day delivery. It serves a diverse range of customers including original equipment manufacturers, wholesalers and contractors.

The Deal

Diploma mandated the Distribution team of Lincoln’s Industrials Group to sell Hawco. Following a competitive process, Bay Tree Private Equity was selected as the preferred buyer given its prior experience in industrial distribution and strong conviction of Hawco’s growth potential.

Our Perspective

Julian Tunnicliffe, Managing Director in Lincoln’s Industrials Group, commented, “Hawco was owned by Diploma for 20 years. It has been a strong and consistent contributor through the economic cycle. Now supported by Bay Tree, Hawco intends to build upon its reputation for technical expertise to take advantage through organic growth and acquisitions of the opportunities created by the demand to achieve net zero in heating and cooling.”

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