Industrial bearings firm acquired by South Africa-listed group

A South Yorkshire industrial bearings business has been snapped up by a South Africa-listed company. Prominent dealmaking firms supported the acquisition.

Doncaster-based Nationwide Bearing Company (NWB) has been acquired by Invicta Holdings Ltd. 

Founded more than 30 years ago by Paul Birley, NWB is a supplier of bearings, bushes, and seals to the agricultural and earth moving machinery aftermarkets. It supplies OEMs and international distributors.

Invicta's acquisition of NWB is expected to contribute to its diversification into geographical areas in the industries and markets in which the South African company has significant experience and strong management capabilities.

The company will continue to operate as a standalone entity under Invicta's ownership and will be led by current general manager Mark Sabin, who will become managing director.

 

Paul Birley, founder of NWB, said: "Building NWB to the position it is in today has been my life's work, so finding the right party to pass it on to was extremely important to me.

"Having held discussions with several parties, both in the UK and internationally, I am confident that Invicta are an excellent fit to lead the next phase of the company's growth.

"NWB and its employees will benefit from being part of a larger global group and I look forward to seeing the business prosper under Mark's leadership."

Craig Barnard, commercial director at Invicta, added: "NWB is operating successfully in the British and European aftermarket parts distribution industry and this acquisition provides a platform for Invicta to grow our global 'Replacement Parts Earth Moving' segment of the business.

"We aim to realise synergies through our procurement capabilities by sourcing inventory for NWB's clients on a more cost-effective basis and providing access to a broader range of products.

"In addition, NWB has product ranges which can be cross-sold into Invicta's existing operations."  

 

Translink Corporate Finance acted as the lead adviser to NWB. Clarion Solicitors also acted on the deal, providing legal advice to the director shareholder.

The Translink Corporate Finance team consisted of Declan Savage, Andy Haigh and Luke Harrower with support from its specialist Transaction Tax (Amanda Waterhouse) and SPA Advisory (Emma Oakley) teams.

Translink ran a competitive sale process, working with the firm's wider international network to evaluate interest received from across the world. Invicta was ultimately selected as the preferred acquirer, having been introduced by Translink South Africa.

 

Declan Savage, director at Translink Corporate Finance UK, said: "It has been a pleasure to advise Paul and NWB on the sale to Invicta Holdings.

"Paul has built a fantastic business, developing a globally recognised brand in the agricultural machinery aftermarket.

"This acquisition is a perfect example of our cross-border capabilities for our clients, and we are delighted to have delivered this transaction for Paul and his family.

"We look forward to seeing NWB continue to grow under Invicta and Mark's stewardship."

 

Clarion Solicitors worked closely with Translink and provided legal advice to Paul Birley during the deal. Clarion Solicitor's team comprised Hitesh Tailor, Jonathan Schneider and Jonathan Simms.

Original Source