Grace's Guide

British Industrial History

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FKI Electricals

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of Halifax

Fisher Karpark Industries

Previously known as Fisher Karpark Industries Ltd.

Maker of parking meters and automatic car batteries

FKI Electricals

1982 Listed on Unlisted Securities Market[1] through reverse takeover of Woodend Securities[2]

1983 Acquired English Numbering Machines from Rank. Production to be concentrated in Halifax[3]. Moved to main stock market.

1984 Acquired Burndept, maker of radio communication equipment[4]

1985 Acquired Metamec, clockmaker[5] and Poppe Manufacturing from Hallite[6], and 4 transport equipment companies: TI Crypton, TI Bradbury, TI Transervice, TI Transport Equipment[7]

1986 Acquired the engineering and components business of Thorn EMI[8]. Substantial rationalization. Acquired Laurence Scott and rapidly turned it around[9]

1987 Sunleigh Electronics bought 3 companies from FKI in exchange for a 24 percent shareholding[10]; FKI acquired Normand Electrical Co[11]. Acquired Stone International which was in trouble arising from an overseas contract[12]

FKI Babcock

1987 Acquired the much larger Babcock International with a rights issue which was poorly taken up; the combined group would have 30,000 employees; name changed to FKI Babcock[13]. Closed down about one-third of Babcock's sites and made 4000 staff redundant, giving emphasis to manufacturing and less to contracting[14]

1989 Because of the low stock market rating, FKI demerged from Babcock International, having shrunk the business to its profitable parts, leaving a North American division and electrical products[15]

FKI Babcock was broken up when the chairman, responsible for the growth in the previous 10-15 years, became disenchanted[16]

FKI

1989 FKI acquired Osborn-Mushet Tools, which was combined with Clarkson International Tools as a world leader in precision tools[17]

1990 FKI made 5 acquisitions[18]. Profit warning. Unable to sell the American division because of collapse of the junk bond market[19]

1991 Further rationalisation when profits fell more[20]. Sold the Stone air conditioning business to a Japanese company[21]

1992 Rationalisation completed and upturn expected but the company was dependent on the depressed vehicle and housing markets; materials handing and vehicle parts were doing well but process control was less successful[22]. Staff numbers had been reduced to about 12,500[23]

1994 Wellman acquired several businesses from FKI including Bradbury, Crypton, Tully, Transervice and Data Recording Instruments and Babcock Robey[24]

1996 Had made several acquisitions and successful rights issue; acquired the Hawker Siddeleyt Electrical Power Group[25]

2006 Acquired Harrington Generators International

2008 The group had 4 main elements[26]:

  • Hardware (Truth and Wright Products)
  • Logistex, maker of baggage-handling equipment
  • Energy Technologies
  • Lifting Gear (Crosby)

2008 Acquired by Melrose, including the Bridon, Brush, Crosby, Marelli, Truth, Harris and Acco subsidiaries.

See Also

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Sources of Information

  1. The Times, Dec 03, 1982
  2. The Times, Oct 03, 1983
  3. The Times, Jun 13, 1983
  4. The Times, Jun 09, 1984
  5. The Times, Jan 30, 1985
  6. The Times, Sep 02, 1985
  7. The Times, Nov 13, 1985
  8. The Times, May 28, 1986
  9. The Times, June 06, 1987
  10. The Times, April 18, 1987
  11. The Times, April 30, 1987
  12. The Times, June 06, 1987
  13. The Times, July 22, 1987
  14. The Times, November 27, 1987
  15. The Times, July 20, 1989
  16. The Times, April 11, 1991
  17. The Times November 28, 1989
  18. The Times, April 13, 1990
  19. The Times, June 15, 1990
  20. The Times, June 14, 1991
  21. The Times, December 17, 1991
  22. The Times, June 19, 1992
  23. The Times, November 13, 1992
  24. The Times, July 19, 1994
  25. The Times, September 13, 1996
  26. The Times, March 06, 2008