MILLBROOK GROUP ACQUIRED FOR £122m

millbrook bus

Millbrook Group, the UK’s primary testing ground for vehicles, parts and tyres has been acquired by Spectris PLC for a reported £122m.

The acquisition means that Spectris, a company involved in metering and measurement equipment, can look to providing Millbrook with modern hardware and software suitable for testing components and systems that will be fitted to coming generations of hybrid and electric vehicles.

The deal also includes a subsidiary business called Test World. This operation is based in Finland and specialises in testing snow tyres and winter products in the Arctic Circle.

Under the previous ownership of private equity group Rutland Partners, Millbrook has seen its stock rise over the past few years. Rutland acquired the facility from General Motors in 2013 and introduced a new senior management team lead by CEO Alex Burns with an eight-fold increase in underlying earnings following a £20m investment. Burns and his team will remain in place under the new owner.

Eoghan O’Lionaird, Business Group Director at Spectris, said: “Millbrook represents our largest purchase to date of a pure testing services business. It is closely related to our existing instrumentation businesses and, as such, the acquisition is an important step forward.”

Published by GregWhitaker

Editor of CAT Magazine and an experienced motoring journalist

JIM SAKER APPOINTED IMI PRESIDENT

Incoming President replaces Graham Smith OBE

Read More

ECP DIRECTOR: ‘HUGE INCREASE IN DEMAND FOR MOT-RELATED EQUIPMENT’

Rise in demand for garage plant, such as lifts, according to Workshop Solutions boss

Read More

TRADE FAIR BOSS: AFTERMARKET TO UNDERGO ‘NATURAL SELECTION’

Autopromotec’s Renzo Servadei says ‘only the fittest will overcome the obstacles’

Read More

IGA UP FOR ‘COVID CHAMPION’ AWARD

RMI association shortlisted for new Learning Award category

Read More

BREAKING: NATIONWIDE BRANCHES TO REBRAND AS FMG REPAIR SERVICES

Redde Northgate expected to rebrand 77 of the former Nationwide branches under the FMG trading style

Read More

Go to comments

Your email address will not be published. Required fields are marked *