Millbrook Group to Join Spectris plc’s Test and Measurement Business Segment
September 2nd 2016 Corporate,UK,Finland
- Spectris has acquired Millbrook Group for £122 million on a cash-free / debt-free basis
- Spectris has annual revenues of over £1.2 billion and now employs around 8,700 people in more than 30 countries
- The new ownership will help to accelerate Millbrook’s international expansion and investment plans in the UK and Finland
- All management and staff will stay with the Millbrook business, supported by the stability of ownership by a UK-based public company
- Millbrook will join Brüel & Kjær Sound & Vibration, HBM and ESG Solutions in Spectris’ Test and Measurement business segment
Millbrook is pleased to announce that on 1st September 2016 it was acquired by Spectris plc.
Spectris is a well-respected and long-established supplier of productivity-enhancing instrumentation and controls. Headquartered in Egham, Surrey, and listed in the UK, Spectris has annual revenues of approximately £1.2 billion and now employs around 8,700 people in more than 30 countries.
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 in the realisation of the Group’s strategy to provide our customers with differentiated solutions that incorporate a combination of hardware, software and services. We believe that there is a significant opportunity for Millbrook to strengthen its market position and accelerate its growth through continuing its recent capital investments and making bolt-on acquisitions to expand internationally and broaden its service portfolio.
The demand for Millbrook’s services and expertise is growing with the increasing focus on car and other transport emissions, automotive safety and the move to the electrification of vehicles. In the last 3 years, under Rutland Partners’ ownership, the company has transformed itself into a highly regarded testing services provider with a broad, diversified customer base. It has experienced significant growth by focusing on technical excellence and customer satisfaction as core values.
This is a strategic move for Millbrook and we are very excited to be joining Spectris. There are many advantages to becoming part of this global group, which will underpin our investment plans. Spectris’ other portfolio companies will bring us expertise and capabilities so we can offer our customers innovative solutions. We will retain all jobs in Millbrook and we will have the opportunity to accelerate Millbrook’s growth through investment and expansion into key international markets. We will remain independent and impartial and benefit from the stability that this change brings to Millbrook Group.
Both Spectris and Millbrook are set to benefit from the investment, which enables Spectris to make an important step in its strategy to provide customers with differentiated solutions that combine hardware, software and services. Millbrook will become part of the Test and Measurement business segment of Spectris plc and complements a number of its existing businesses. The integration will enable Millbrook to continue with its ambitious plans for growth, accelerating capital investment and international expansion.
Through extensive completed and planned capital expenditure the business is primed to drive strong growth for its new owners. We wish Alex Burns, the team and Millbrook’s new owners every success.