Gnosys Global sold to Kinectrics
Canada’s 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.
Headquartered in Ontario, Canada, Kinectrics specialises in engineering, testing, inspection, and certification services, and is the category leader in providing life cycle management services for the electricity industry.
“We would like to thank BCMS for their guidance and support throughout the sale process” – Gary Stevens, Gnosys
“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,” said David Harris, CEO of Kinectrics, at the time of the transaction in 2019. “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 sell group-wide products and services more effectively, and penetrate Europe’s Nuclear, Transmission & Distribution industries.
Transaction commentary
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.
BCMS Assistant Director 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.”
