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 five continents.
Newbury Investments (UK) Ltd is part of a substantial family business which trades extensively across North America, UK and Australia in the distribution space.
The shareholders acquired their first UK business, Edmundson Electrical Ltd – a leading UK electrical distributor – back in 1979.
Five trading subsidiaries at Newbury
Newbury Investments (UK) Ltd has five trading subsidiaries:
With a turnover of circa GB pound 320 million and a net asset value of GB pound 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.
Commenting on the news Barry Shakespeare, managing director at Norbain, stated: “We’re confident that Norbain’s ‘Best in Class’ operations combined with Newbury Investments’ financial strength and complementary distribution experience will secure our future growth strategy.”
Official statement from KPMG
Will Wright and Colin Haig of KPMG were appointed joint administrators of the Norbain Group Limited and its UK subsidiaries on 29 June 2012.
Immediately upon appointment the joint administrators completed an agreement to sell the assets of the UK business to Newbury Investments (UK) Limited. This deal secured the ongoing trading of the company and all UK staff have transferred to the purchaser.
Will Wright, joint administrator at KPMG, commented: “Norbain’s business was adversely affected by a decline in orders as customers decided to wait and see if the economy would improve before investing in infrastructure projects. The fall in income was a key factor in the company entering into administration.”
He continued: “This deal marks a fresh start for the Norbain UK business and puts it on a more solid footing for the future. We received a great deal of interest from buyers keen to turn the business’ fortunes around. We are pleased that the process we ran allowed the company to avoid a full operational administration via a ‘pre-pack’, securing the UK jobs and protecting precious value.”
The administrators will now seek a purchaser for the businesses in South Africa, Benelux and Portugal. Interested parties should contact KPMG on (telephone) 0121-232 3000.
