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Rubicon and Grovepoint acquire EnServe Group from Cinven

Rubicon Partners and Grovepoint Capital are pleased to announce the acquisition of EnServe Group Limited (“EnServe” or “the Group”) from European private equity firm Cinven for an undisclosed amount.

EnServe is a leading provider of infrastructure support services to the utilities sector, operating principally in the UK. EnServe was acquired during December 2010 by Cinven and today comprises three divisions: Electricity, Utility Services and Analytics. The Group works in partnership with a large number of commercial, public and utility organisations, operating from more than 30 locations across the UK and employing 1,650 people.

EnServe comprises the following three divisions:

  • The Electricity division incorporates Freedom Group, which provides engineering design, installation and maintenance services to the utility sector and wider markets, working primarily with electricity distribution networks and private network owners

  • The Utility Services division operating under the Meter-U and Metro Rod brands, provides meter reading services to Energy and Water Utility companies and waste water drainage services to water companies and commercial / domestic clients

  • Evolve Analytics is a software provider specialising in the identification and correction of settlement and billing error in the energy sector and providing Business Intelligence solutions to energy retailers. It uses proprietary software, combined with detailed knowledge of the energy settlement process, to unlock financial and operational performance improvements for utilities companies.

In the year ended 30 April 2015 the Group had a turnover of c. £200m.

Grovepoint and Rubicon have joined together in partnership to make several successful investments since 2010. As the new owners of EnServe, they will combine hands-on strategic and operational management expertise with the capital and market insight needed to maximise the potential of each of the Group’s businesses.

RG Industries Completes Sale of Van-Line.

RG Industries, the investment vehicle created by Rubicon Partners and Grovepoint Capital LLP, is delighted to announce the sale of Van-Line Limited to an international group headquartered in Germany.

Headquartered in Leeds, United Kingdom, Van-Line is a leading distributor of a broad range of vehicle workshop products and consumables to the independent garage and equipment rental aftermarket.  Van-Line, under the brand “Workshop Warehouse” employs 55 staff and distributes over 6,500 product lines with national coverage.  Van-Line was acquired by RG Industries as part of the acquisition of Volvox Group (Leeds) Ltd. in June 2015.

BMAC Acquires Translec

BMAC, leaders in road and rail lighting has announced this week that they have recently acquired Translec, an innovative manufacturer of interior and exterior lighting also for the rail industry.

The acquisition will give BMAC exclusive rights to Translec’s existing products and technologies bringing together both companies' expertise.   

The acquisition is part of BMAC’s ongoing growth strategy and will give the company a greater European market presence and allow BMAC to broaden its product offering, making it a supplier of scale to global rail OEMs.  For now, both companies will retain their own identities and customer bases, with a future plan to integrate BMAC’s and Translec’s resources at the BMAC plant in Audenshaw, Manchester.

The combination of both companies' product and technology offering is a strong market proposition, making a significant impact on the scale of the businesses.  Synergies between the two companies runs beyond the market potential, with both being committed to product innovation, quality and service.

Metallwarenfabrik Gemmingen sold to American Industrial Acquisitions Corporation

Vision Capital and Rubicon Partners are pleased to announce the sale of  Metallwarenfabrik Gemmingen (MG) to American Industrial Acquisitions Corporation (AIAC).

Vision and Rubicon acquired MG in 2011 and since then have made significant investments. These include modernizing the production facilities in Germany and Hungary, adding a new production facility for Gensets plus adding in-house die casting tool making and machining capabilities.

AIAC is already invested in the die casting industry with sites in Germany and Hungary; its strong presence in Asia will support the further growth of MG, specifically strengthening its Asian presence.

Vision Capital and Rubicon Partners wish the Management and employees of MG a successful future under the ownership of AIAC.

Boddingtons Sees Continued Growth and Significant New Investment

Boddingtons is experiencing significant growth due to strategic focus on the medical and technical market segments, and thanks to investments in cleanroom manufacturing and a dedicated medical Quality System ISO13485.

As a result, Boddingtons has trebled sales over the past five years and is on track to grow by at least another 7% in 2015.

Its success is not only focused upon UK markets, but also incorporates the European and US marketplaces. A number of start-up companies, which Boddingtons has supported during their early product development and market introduction activities, are now beginning to produce significant sales.

The strategy has been to target both large and small customers in order to allow a portfolio of products to be built to demonstrate its capability in both the medical and technical sectors.

Its success has meant the necessary expansion of its manufacturing facility in order to meet the growing demand and requirements of its current customer base – as well as to position itself for further growth.

Boddingtons now has planning permission to build a second facility adjacent to the current building with an approved investment of £3–5 million. Within the new facility, 50% will be cleanroom manufacturing, which will increase its current cleanroom capacity five–fold. Work on the building will start in Q3 2015, with production commencing in Q2, 2016.

RG Industries LLP Acquires Volvox Group (Leeds) Ltd.

RG Industries, the investment vehicle created by Rubicon Partners and Grovepoint Capital LLP, backed by Investec, is delighted to announce its fourth acquisition. Volvox is comprised of three individual businesses, Ring Automotive, Van-Line and BMAC.

Ring Automotive, based in Leeds, is the UK’s leading designer and developer of high-tech branded aftermarket vehicle lighting and technical car accessory products.  Van-Line, based in Leeds, is a leading distributor of vehicle workshop products and consumables to the independent garage and equipment rental aftermarket.  BMAC, based in Manchester, is the UK’s leading designer and manufacturer of lighting and electronic control systems to rail and bus Original Equipment Manufacturers and to the aftermarket. There are c. 220 employees across the Volvox group.

RG Industries was established by Rubicon and Grovepoint to build a global portfolio of high quality industrial businesses, with a focus on complex situations that benefit from RGI’s industrial experience and hands-on operational approach. RGI plans to manage the group as individual businesses providing strategic vision and operational guidance.