| 03 July 2012
Reading UK: Norbain announced yesterday that its UK operation including export has been acquired by Newbury Investments (UK) Ltd from the administrators, KPMG.
Norbain is one of Europe’s most successful distributors of CCTV, IP Video, Access Control and Intruder Detection equipment. Headquartered in Reading, Berkshire, the company employs over 240 people throughout the UK in various sales offices and at its distribution centre in Manchester. Each year, the company’s International Sales division sells into 77 countries across 5 continents.
Newbury Investments (UK) Ltd is part of a substantial family business which trade extensively across North America, UK and Australia in distribution.
The shareholders acquired their first UK business, Edmundson Electrical Ltd, a leading UK Electrical distributor in 1979.
Newbury Investments (UK) Ltd has 5 trading subsidiaries:
• Deta Electrical Company Ltd
• Decco Ltd
• Stearn Electric Co Ltd
• UK Cables Ltd
• UK Electric Ltd
With a turnover of circa £320 million and net asset value of £82 million, prior to the acquisition of Norbain, Newbury Investments (UK) Ltd is a financially strong group which will underpin Norbain and allow Norbain's suppliers, customers and employees to be confident in its future trading.
Barry Shakespeare, managing director of Norbain SD Ltd, stated: “We are confident that Norbain’s best in class operations combined with Newbury Investments’ financial strength and complementary distribution experience will secure our future growth strategy”.
|< Prev||Next >|