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Rochester Gauges Acquires Fozmula Limited November 1, 2019
November 7, 2019
Source: Renovo Capital, LLC
Rochester Gauges, LLC (“Rochester”), a designer and manufacturer of liquid level gauges and sensors, announced today that it has acquired 100% of the capital stock of Fozmula Limited (“Fozmula”) from HB4. The acquisition of Fozmula is part of a multi-year strategy to expand Rochester’s technical portfolio and global footprint within the liquid level measurement segment.
Founded in 1977 in Warwick, UK, Fozmula is a designer and manufacturer of liquid level sensors. The company is a leader in capacitive technology, servicing the power generation, construction, agricultural and industrial markets.
Ben Lease, President of Rochester Gauges commented, “We are thrilled to welcome Fozmula to the Rochester family. The combination is extremely synergistic, allowing us to offer Fozmula’s industry leading capacitive products to our current customers, and our broad range of reed-based and guided wave radar products to theirs. The Warwick facility and team will provide Rochester the scale and resources necessary to service the European market. We are also delighted to be cooperating with the HB4 team on supply chain, design and automation projects.”
Paul Holtby, Director of Fozmula added, “The combination with Rochester will allow Fozmula to continue operating from its location in Warwick, UK but provide a broader product catalogue and deep engineering and operational resources to our existing customers. Fozmula’s strength in Europe and capacitive level technology will help to accelerate global growth of the combined businesses.”
About Fozmula Limited
Fozmula specializes in the design, development and manufacture of a wide range of electro-mechanical, mechanical and electronic sensors and gauges for equipment requiring liquid level, temperature and pressure measurement. Fozmula has a global customer base across the power generation, specialty vehicle and construction equipment industries. Fozmula was acquired by HB4 in 2016.
About Rochester Gauges
Rochester Gauges is a manufacturer of gauges and sensors that measure liquid levels of various fuels, including propane, gasoline and diesel for many different applications, such as residential and commercial propane tanks, forklifts, RV’s, lawn and garden equipment, tractors, marine and personal aircraft. Rochester has manufacturing facilities in Dallas, Texas; Mexico City, Mexico; Brussels, Belgium with a sales office in Shanghai, China. Rochester was acquired by Renovo Capital in 2018.
HB4 is a family holding company operating in the industrial, real estate, automotive and interior design sectors in Italy and Europe. HB4 focuses on technological know-how and increases innovation of its portfolio companies through the transfer of technology between the different sectors in which it operates.
Renovo Capital, LLC is a Dallas-based private equity fund that partners with business owners, entrepreneurs and management teams to invest in specialty manufacturing and business service companies. Renovo’s principals and network of operating professionals have decades of experience providing operational and strategic leadership to drive long term business value creation. Renovo Capital has offices in Dallas and Denver.