Press Release –
Denver, Colorado – Gates Corporation is pleased to announce its acquisition of ENZED-Fleximak Ltd.
Since 1985, when ENZED-Fleximak first began operating in the United Arab Emirates, the company has provided customers from a broad set of industries with a comprehensive range of engineering, fabrication, testing and service operations for flexible fluid transfer products in the rapidly developing Arabian Gulf region.
Founded and headquartered in Dubai, United Arab Emirates, ENZED-Fleximak has expanded to seven locations, including branches in Jebel Ali and Abu Dhabi, UAE; Doha, Qatar; and Dammam and Jubail, Saudi Arabia.
The collective market size for fluid power transfer products in this region is estimated to be worth around US$160 million per annum. By allowing Gates to accelerate its market penetration for fluid power products in this high-growth market and to expand the distribution of its power transmission products, ENZED-Fleximak will be a strategic addition to Gates Corporation.
“As an established leader in this vibrant and growing market, ENZED-Fleximak is uniquely positioned to serve diverse industry needs, and is a natural addition to Gates presence in the Gulf area. The acquisition creates new opportunities for Gates to enter the market with hose and fittings as well as assembly and mobile services,” said Gates Corporation President, Richard Bell.
Colin Gorton, ENZED-Fleximak General Manager, said, “The alignment with Gates will give us a great opportunity to accelerate growth in the region and further enhance customer satisfaction.”
“I am delighted to be associated with an internationally respected company like Gates. This move will give us ready access to Gates high-performance design, development and testing resources, which will significantly expand our potential product offering to our valued customers,” added Kim Henderson, ENZED Operations Manager.
Both Gorton and Henderson, will remain at the company, and will be deeply involved in its integration with Gates Corporation.