Norbain announced that its UK operation, including export, was acquired by Newbury Investments from the administrators, KPMG.
With annual revenues in excess of US$150 million (￡100 million) and growing, Norbain is one of Europe's key distributors of CCTV, IP video, access control and intrusion detection equipment. Headquartered in Reading, Berkshire, the company employs more than 240 people throughout the U.K. in various sales offices and at its distribution center in Manchester. Each year, the company's international sales division sells into 77 countries across five continents.
Newbury Investments is part of a substantial family business which trades extensively across North America, U.K. and Australia in distribution. The shareholders acquired their first UK business, Edmundson Electrical, a leading UK Electrical distributor in 1979.
Newbury Investments has ive trading subsidiaries:
- Deta Electrical Company
- Decco
- Stearn Electric
- UK Cables
- UK Electric
With a turnover of circa $480 million (￡320 million) and net asset value of $120 million, prior to the acquisition of Norbain, Newbury Investments is a financially strong group which will underpin Norbain and allow Norbain's suppliers, customers and employees to be confident in its future trading. “We are confident that Norbain's best-in-class operations combined with Newbury Investments' financial strength and complementary distribution experience will secure our future growth strategy.” stated Barry Shakespeare, MD of Norbain.