Paris Smith were delighted to advise the shareholders of Knowlton & Newman Ltd in relation to its sale to Rubix UK as part of the group’s network development strategy.
Knowlton & Newman Ltd is a long-established family company based in the south of England, specialising in the repair and replacement of electric motors pumps and gearboxes. Their key customers are in the utilities, marine, pharmaceutical, food, aggregates and power generation sectors.
Mike Knowlton, Managing Director said: “We’re really looking forward to leveraging the Rubix UK network to accelerate sales, as well as capitalising on Rubix’s technical expertise in providing other key maintenance and repair solutions to expand our offer to customers here in the south of England.”
Whilst continuing to operate independently, Knowlton & Newman will be ‘powered by Rubix’, and will play a strategic role in extending the Rubix offering in electro-mechanical repairs services, a key growth area for Rubix in the UK. The acquisition will also add a southern regional hub to existing engineering service centres in the Midlands, South West and North of England.
“We worked very closely with the team at Paris Smith, led by Amanda Brockwell, and the team at Menzies corporate finance, led by John Foundling. They worked very closely together to see us through the due diligence phase of transaction, and then had a proactive approach to problem-solving which enabled us to complete the transaction on 31 December 2020; we were delighted with the service we received”
Amanda Brockwell concluded; “Knowlton and Newman have been involved in the regional business community for two generations and we were delighted to be involved in the company’s next phase of development as it continues to support vital infrastructure and utilities both regionally, and nationally ”