Canadian group Kinectrics acquires UK’s Gnosys Global
Kinectrics Group, a privately owned, global provider of life cycle management services to the electric power industry, has acquired Gnosys Global in a transaction advised by BCMS.
Guildford-based Gnosys is an industrial innovation accelerator with a history of leading large R&D projects and exploiting intellectual property rights for the UK's energy sector.
"This is an exciting company to work for. We are committed to growing our existing product and service portfolios by investing in technology and innovation," states David Harris, CEO of Kinectrics. "This acquisition provides a more complete and mature technology development framework that really strengthens our early-to-mid phase development capability."
The acquisition adds a group of professional scientists, a suite of patents and trademarks, and an independent UK facility at the University of Surrey Research Park.
This UK base will allow Kinectrics to more effectively sell group-wide products & services and penetrate Europe's Nuclear, Transmission & Distribution industries.
Gnosys CEO Gary Stevens commented: “The whole team at Gnosys is delighted to have joined Kinectrics. As part of a larger management owned multinational company, we will be even better positioned to serve our energy sector customers today and for the long term. We are very excited about our future with Kinectrics. We would like to thank our adviser BCMS for their guidance and support throughout the sale process”.
The combined entities share similar values, technical credibility and a demonstrated history of providing innovative solutions to complex problems. By integrating complementary teams in the areas of life cycle management, inspection techniques, data analytics and high-performance functional materials, Kinectrics possesses the ability to fast-track new products and services to market.
Together, through well-structured R&D and innovation programs, Kinectric's goal will be to improve customers' business by addressing their technical challenges, reducing operating costs and improving productivity, safety and reliability of their assets and operations.
BCMS advised GnoSys with legal advice from Freeths LLP. The price and terms of the deal are undisclosed.
BCMS Lead Advisor, Andrew Sims said: “Our clients were keen to find a larger partner for GnoSys to unlock its growth potential, and the acquisition by Kinectrics is a great strategic fit. We enjoyed working with both Gnosys and Kinectrics on this cross-border transaction, which once again demonstrates why business owners need to look far and wide to find the best home for their company.”
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