Nova Capital Management has acquired the BMP Group of companies and RB Medical from Andrew Industries, expanding its portfolio of specialized industrial, manufacturing and healthcare businesses.
BMP Group manufactures industrial consumable components and sub-assemblies used across office automation, filtration, automotive, domestic appliances, sustainable tree protection, renewable energy and other specialty applications.
RB Medical is a specialized healthcare products business serving the UK medical market.
The acquired companies operate across multiple international locations and maintain established customer relationships and technical manufacturing capabilities.
Omiros Millas, a partner at Nova, and Nova Operating Partner Carl Francis will jointly oversee BMP Group and RB Medical on behalf of the private equity firm.
The companies will continue operating under their existing management structures, with Nova providing additional strategic, financial and operational resources.
Nova plans to work with management on operational improvement, product innovation, investment and long-term growth while also evaluating opportunities for additional collaboration across the businesses.
Nova has invested in more than 75 businesses since its founding in 2002 through transactions with a combined value exceeding $3 billion.
Dentons and Cooper Parry advised Nova on legal matters, Grant Thornton provided financial and tax advice and Fellwood Advisory advised on debt structuring.
KPMG Corporate Finance advised the shareholders of Andrew Industries, with DLA Piper acting as legal adviser.
KEY QUOTES:
“We are delighted to welcome the BMP Group and RB Medical into the Nova Capital portfolio. These are excellent businesses with strong technical capabilities, highly respected customer relationships and talented management teams who have built impressive foundations over many years.
“We believe there is significant opportunity to build upon those foundations through continued investment, operational improvement, product innovation and long-term growth.”
David Williamson, Founder and Managing Partner of Nova Capital Management
“A key attraction for us is the quality of the businesses and the people behind them. Our approach will be to work closely with the existing management teams, preserving the capabilities and customer relationships that have made these companies successful, while bringing additional resources, investment and focus to help them achieve their full potential. We see opportunities both within the individual businesses and through greater collaboration across the group.”
Omiros Millas, Partner at Nova Capital Management
“The BMP companies and RB Medical have been important parts of Andrew Industries, and we are proud of what the teams have accomplished. We believe Nova Capital is the right long-term owner to support the businesses in their next phase of development and growth.
“Nova brings operational expertise, investment capability and a strong partnership approach that will help the businesses continue evolving in an exciting and positive direction for employees, customers and stakeholders alike.”
Mark Bennett, CEO of Andrew Industries
“We are delighted to have advised the shareholders of Andrew Industries on the transaction. Nova represents an excellent home for BMP and RB Medical, and we wish the management teams and employees every success in their next phase of growth.”
Surinderpal Matharu, KPMG Head of UK Diversified Industrials M&A
