Gibbins’ Flowcrete sold to US firm

The company, which has its headquarters in Sandbach, Cheshire, has been bought for an undisclosed sum by NY stock exchange-listed RPM International Inc, which is listed on the New York Stock Exchange. Flowcrete gave assurances that jobs are its plant were safe and that the deal would enable the company to grow and expand, both in the UK and overseas. Flowcrete employs 350 people around the world, with 90 based in the UK. The company said that the sale would give Gibbins, 49, the opportunity to fulfill a life-long ambition to create a social enterprise which promotes, educates and supports the concept of Feng Shui and healthy environments into the UK’s residential and business communities. Having starting the business in 1982 with her late father, Gibbins has, with her husband and business partner Mark Greaves, helped to build Flowcrete up to a multi-million pound international brand with 30 offices and 12 manufacturing plants. In 2007, it achieved sales of more than £44 million - 24% up on the previous year. Gibbins, who served on the then DTI’s manufacturing forum, received an MBE for services to industry in 1994, and the Veuve Clicquot Business Woman of the Year title in 2003. Commenting on the sale, she said: “Flowcrete has been a central part of my life for 25 years but I am glad it is being transferred into the ownership of such an entrepreneurial company as RPM, under a deal that gives the company a platform for growth, stability and success. For several months, we have been looking at ways to raise funds for the group, which would give it the financial muscle to make further acquisitions.” Flowcrete will continue to be led by the current management team, with Mark Greaves continuing as group managing director. He said: “The jobs of the staff who currently work for the business are safe and it is likely that we will be employing more staff locally and internationally as the business continues to expand.”