A BRADFORD business of more than 170 years has been sold after it fell into administration.

Thomas Wright/Thorite Group Limited is a wholesaler, distributor, and installer of compressed air equipment.

Thorite, which has been based in the city since 1850, operates from seven sales and service centres across the UK.

It is a leading provider of pneumatics, compressed air, vacuum, and fluid handling products and systems.

Howard Smith and Rick Harrison from Interpath Advisory were appointed joint administrators to Thomas Wright/Thorite Group Limited on August 23.

According to Interpath Advisory, Thorite had recently experienced trading difficulties and as a result, had become loss-making.

Following an exploration of sale, refinance, and investment options, Interpath said it became clear that a solvent solution was not possible, and as such, the directors took steps to seek the appointment of administrators.

Immediately following their appointment, the joint administrators sold the business and its assets to AIM-listed Skelmersdale-based hydraulics business, Flowtech Fluidpower plc.

As part of the transaction, all of Thorite’s 105 employees have transferred to Flowtech. 

Howard Smith, managing director at Interpath Advisory and joint administrator, said: “Having traded for over 150 years, Thomas Wright/Thorite Group has forged a longstanding reputation for innovation and for the quality of its products.

"We’re therefore delighted to have secured the future of this historic business, preserving the jobs of its dedicated workforce, with this sale to Flowtech Fluidpower, we wish the company all the very best for the future.”

Flowtech Fluidpower plc has acquired the entire business and assets of Thorite.

The company said: "This very much complements, expands and strengthens the current Flowtech brand and value proposition, adding to our extensive product offering across pneumatics, hydraulics, automation and control.

"This will also further expand our engineering, services and solutions proposition across our 11 Engineering Solution Centres."

Flowtech's CEO Mike England added: “We are delighted to acquire this well-respected brand and skilled workforce, a company with 174 years of heritage and a renowned market leader in pneumatics and air management. 

“On behalf of all of us at Flowtech we welcome our new colleagues to the Group. This is an exciting moment for us all as both businesses have a history of deep expertise and knowledge in power, motion and control.

“For us at Flowtech, adding Thorite’s expertise in pneumatics, automation and compressed air capability is an excellent fit and aligns perfectly with our strategy – a world of motion.”