Category: Uncategorized

Fibron is a renowned global manufacturer that specialises in umbilical cables and other subsea specialty cables for customers in offshore Oil and Gas, Renewables, ROV, Defense, and Diving. The company has considerable in-house design expertise and manufacturing facilities capable of producing a broad range of products. The company has 114 employees and is based out of Hoddesdon, north of London, UK, where it operates a ~7,200 square meter production facility.

Rubicon acquired Fibron in 2018 as a carve-out from its US-corporate owner, Actuant Corporation. Under Rubicon’s ownership, Fibron has doubled in size through a strategic focus on supplying dynamic umbilicals to harsh environments, including through growing in new segments such as ROV and Renewables.

The existing Fibron management team will remain in their current roles.

Rubicon Partners were advised by KPMG (sell-side M&A) and Proskauer Rose LLP (Legal). Hexatronic were advised by Alvarez & Marsal (Financial Advisor) and White & Case is (Legal).

ABL is the leading global specialist provider of mission-critical de-coating services to the circular economy. Founded in 1987, ABL de-coats a wide range of products using thermal and chemical techniques as part of regular equipment maintenance, or to allow re-work of reject production. The company serves over 7,000 customers internationally and benefits from a leading market position with c. 30% market share in Europe.

Vision and Rubicon acquired ABL in 2011. Over 12 years of its ownership, Vision and Rubicon have supported the business in its investment requirements and in the development of its strategy. As a result, the Company, headquartered in Leutkirch, Germany, now has a global footprint with 19 operating facilities in 9 countries across Europe, USA and Mexico.

Vision Capital is an international investment group with a differentiated strategy to create sustainable value for stakeholders. Vision Capital pioneered direct portfolio acquisitions and has invested over $2bn in more than 100 transactions since 1997.

Rubicon Partners is a hands-on investment partnership focused on the acquisition of industrial businesses in the UK. Over the past 30 years, Rubicon has invested in 79 businesses across the manufacturing, distribution and service sectors. Rubicon focuses on opportunities for long-term value creation through working closely with company management in addressing strategic opportunities and operational performance.

Vision and Rubicon were advised on this transaction by: Raymond James (M&A), McDermott Will & Emery Rechtsanwälte Steuerberater (Legal), KPMG (Financial & Tax), EY Parthenon (Commercial & Operational), and ERM (ESG).

Headquartered in Houston, Texas, John Lawrie is a value-added processor and distributor of steel tubular and piling products primarily used in construction and infrastructure applications. Operating out of six facilities in the US and two in the UK, the Company’s scale offers its customers a unique global supply network and the necessary technical and logistical support to meet their project demands. Customers rely on John Lawrie for reliable, high-quality surplus and secondary steel tubular products that are delivered with short lead times and unmatched customer service.

The Company is led by a tenured management team including 35-year John Lawrie veteran and CEO, Vic Sinclair. “We are excited to partner with Center Rock to help us grow and expand our business organically through US yard expansion and movement into adjacent markets. At John Lawrie we have built a strong brand and a differentiated, unique sourcing model giving us access to a large, diversified supply base that is crucial for success in our industry,” said Sinclair.

Center Rock Partner Ian Kirson commented, “John Lawrie has a multi-faceted approach to sourcing that is rare in the pipe piling industry. The management team has built a remarkable enterprise with an environmentally friendly business model as a recycler and repurposer of surplus products, and we are excited to support their future growth.”

Rubicon Partners acquired John Lawrie Group from family ownership in 2017. Under Rubicon’s stewardship, the business more than doubled in size through organic growth by adding new sites and inventory across North America and the UK, together with significantly enhancing its fabrication and processing capability.

CMD is one of the UK’s leading designers and manufacturers of power distribution systems; personal power solutions and ergonomic solutions for the office and commercial fit-out markets. Included in the award-winning CMD product range is Rotasoc, the industry leading workstation power distribution system and Miro, a patent protected monitor arm uniquely constructed to provide complete freedom of movement. The Company employs 158 people, from its manufacturing unit in Rotherham and showroom in London and has been a market leader of award-winning products and solutions since 1988. The existing management team, led by Jon Holding, will continue to lead the business. CMD was previously owned by Rubicon, who created the business in 2001 by integrating three separate companies. Today, CMD’s activities are:

• Power distribution: Powertrack and Power Hub distribution systems along with Access power solutions are used in some of the UK’s most high-profile commercial office, retail and hospitality spaces.
• Workstation power: including USB and Wireless charging for integration into desk, conference rooms, collaborative space furniture and any location within offices/commercial space.
• Ergonomics solutions – products include the award-winning Miro monitor arm that enable heathier working and improved employee performance.

Jon Holding, Managing Director of CMD commented “This is tremendous news for all stakeholders of CMD as we face the modern challenges with new ambition and energy. I’m especially proud to be leading such a talented and committed workforce. The new ownership provides long term clarity as we look to focus on the markets and customers that we serve and to continue the outstanding product development to which we always aspire. With other exciting new projects like a new London showroom already well underway, CMD will remain an exciting place to be for the foreseeable future as we look to continue our development as a business.”

Completion took place on 12th April and the business is now operating as a stand-alone entity. This is the fifth investment made by Rubicon Fund V and is consistent with Rubicon’s niche, highly-differentiated investment strategy of “complex industrial”.

Avove, as the company will now be known, provides water and power maintenance services to customers such as Yorkshire Water and Severn Trent. Rubicon has retained the management team that led the business under Amey and will appoint a new managing director in due course. Mark Perkins has joined the Avove board as Executive Chairman; Rubicon Partners and Mark Perkins have, together, successfully invested in a number of utility-services businesses.

This is a hugely positive step into independent ownership for Avove, whilst facilitating Amey’s strategy to focus on its public sector-offering. The move provides the Avove team with the ability to exploit Rubicon’s significant experience in the water, energy, and power sectors and to significantly grow the business.

This transaction underscores Rubicon’s ability to deliver complex carve-out transactions as a reliable and experienced counterparty to corporate sellers.