Nova Capital Management has acquired BMP Group and RB Medical from Andrew Industries for undisclosed terms. BMP Group is a global manufacturer of industrial consumable components and sub-assemblies, serving markets including office automation, filtration, automotive, domestic appliances, sustainable tree protection, and renewable energy. RB Medical supplies healthcare products to the UK medical sector. Both companies will retain their existing management structures. Nova partners Omiros Millas and operating partner Carl Francis will oversee the businesses, working with management teams on strategy, performance, investment, and business development. "We see opportunities both within the individual businesses and through greater collaboration across the group," said Millas. David Williamson, founder and managing partner of Nova, added: "We believe there is significant opportunity to build upon those foundations through continued investment, operational improvement, product innovation and long-term growth." Since its founding in 2002, Nova has invested in more than 75 businesses through transactions worth over $3 billion. The acquired businesses operate internationally. Andrew Industries, founded in 1894 and based in Lancashire, UK, will continue its remaining operations in technical nonwoven materials and nonwoven felts.
Nova's advisers included Dentons and Cooper Parry on legal matters, Grant Thornton on financial and tax matters, and Fellwood Advisory on debt structuring. KPMG Corporate Finance advised Andrew Industries shareholders, with DLA Piper as legal adviser.
Quelle: PE Hub · Zusammengefasst von HeadlinesBriefing