{"id":646738,"date":"2013-03-14T06:22:30","date_gmt":"2013-03-14T10:22:30","guid":{"rendered":"http:\/\/www.pehub.com\/?p=190987"},"modified":"2013-03-14T06:22:30","modified_gmt":"2013-03-14T10:22:30","slug":"nvm-private-equity-exits-interlube-systems","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/646738","title":{"rendered":"NVM Private Equity Exits Interlube Systems"},"content":{"rendered":"

NVM Private Equity<\/strong> has sold Interlube Systems, to a subsidiary of US-based The Timken Company<\/strong>. The sale represents a money multiple of 3.0x on NVM\u2019s original investment. <\/p>\n

PRESS RELEASE<\/strong><\/p>\n

NVM Private Equity (NVM) has successfully sold one of its long-standing investments, Interlube Systems, to a subsidiary of US based The Timken Company (Timken). The sale represents a money multiple of 3.0x on NVM\u2019s original investment.
\nInterlube is based in Plymouth, UK, and manufactures and markets automated lubrication products for use in commercial vehicles, cranes, quarries and heavy-duty production lines. Timken is based in Ohio, USA, and engineers, manufactures and markets mechanical components and high-performance steel. Timken has been steadily adding to its portfolio of businesses and sees Interlube as highly compatible to its core product lines and power transmission acquisitions.
\nNVM invested in the management buy-out\/buy-in of Interlube over 12 years ago. Since then Mike Cusack, Interlube\u2019s Managing Director, and his team have expanded the company\u2019s manufacturing and assembly capability across the globe. With 2012 sales of \u00a38.5 million and 90 employees, the company has successfully increased its market share by making strategic acquisitions and using its long established distributor network and experienced worldwide sales force to create a focused approach to its market. Interlube is now a world leader in lubrication solutions; helping customers to extend up-time and reduce maintenance costs. The company operates from facilities located in the UK and USA.
\nMike Cusack, Managing Director of Interlube Systems comments: \u201cI have been managing Interlube since the MBO\/MBI and have enjoyed being a part of the company\u2019s successful growth story. The sale to Timken is the obvious next step and Interlube will prosper under the ownership of a multinational. NVM have demonstrated their faith in the management team, through some very difficult economic times. It has been a pleasure working with them to build the business and we are all grateful for their support over the last 12 years.\u201d
\nMartin Green, Managing Director of NVM Private Equity: \u201cInterlube has performed well in some challenging markets over the life of NVM\u2019s investment, so this is a very positive story for the British manufacturing industry. Mike Cusack and his team have a wealth of experience in this sector and have established strong customer relationships and loyalty. I am pleased that the sale to Timken will allow Interlube to continue to flourish as part of a larger organisation and expand into new markets. We have thoroughly enjoyed working with such a dedicated management team and wish them the best of luck for the future.\u201d
\n-ENDS-
\nNOTES TO EDITORS
\nAdvisers:
\nPwC LLP (Corporate finance advisers) \u2013 Gary Partridge, Colin Davis
\nMichelmores LLP (Legal advisers) \u2013 Richard Cobb, Henry Taylor, Harry Trick
\nInclusions: Interlube imagery
\nInterlube Systems Limited is recognised for its quality, reliable service and workmanship in designing, manufacturing and installing lubrication delivery systems and components; and providing installation services. Based in Plymouth, UK, Interlube provides lubrication delivery solutions to commercial vehicle, mining, construction, manufacturing and other heavy industrial customers. www.interlubesystems.co.uk
\nThe Timken Company
\nThe Timken Company (NYSE: TKR; www.timken.com), a global industrial technology leader, applies its deep knowledge of materials, friction management and power transmission to improve the reliability and efficiency of machinery and equipment all around the world. The company engineers, manufactures and markets mechanical components and high-performance steel. Timken\u00ae bearings, engineered steel bars and tubes \u2014 as well as transmissions, gearboxes, chain, related products and services \u2014 support diversified markets worldwide. With sales of $5.0 billion in 2012 and approximately 20,000 people operating from 30 countries, Timken makes the world more productive and keeps industry in motion. www.timken.com
\nNVM Private Equity Limited (NVM) is independently owned with over 28 years\u2019 experience of investing in unquoted UK businesses. NVM is a generalist investor, managing \u00a3220 million of funds, and is differentiated by having executives living and working in regional business communities throughout the UK. NVM seeks investment opportunities in UK businesses which have the right mix of growth potential and market vision. They may be looking to grow organically, acquire another business or secure a management buy-out. Typically, NVM looks to invest between \u00a32 million and \u00a310 million in each transaction.
\nFor further information please contact:
\nLiberty Bollen (NVM: PR & Marketing) – 0118 951 7017 liberty.bollen@nvm.co.uk
\nMartin Green (NVM: Managing Director) \u2013 0118 951 7000 martin.green@nvm.co.uk<\/p>\n

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NVM Private Equity has sold Interlube Systems, to a subsidiary of US-based The Timken Company. The sale represents a money multiple of 3.0x on NVM\u2019s original investment. PRESS RELEASE NVM Private Equity (NVM) has successfully sold one of its long-standing investments, Interlube Systems, to a subsidiary of US based The Timken Company (Timken). The sale […]<\/p>\n","protected":false},"author":7476,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-646738","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/646738","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/7476"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=646738"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/646738\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=646738"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=646738"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=646738"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}