Nova Capital Management has announced its acquisition of BMP Group and RB Medical from manufacturing conglomerate Andrew Industries in a corporate carve-out.
While the financial terms were not disclosed, the secondary transaction sees London and Chicago-based Nova take control of two non-core industrial divisions.
The acquired businesses operate across multiple international sites. BMP Group manufactures industrial consumable components and sub-assemblies for the automotive, filtration, renewable energy and office automation sectors. RB Medical supplies specialised healthcare products to the UK medical sector.
Nova specialises in portfolio acquisitions and corporate carve-outs, taking equity stakes in mature, secondary industrial assets. Operating partners Omiros Millas and Carl Francis will oversee strategy, capital allocation and operational execution across both entities.
Nova will maintain the existing management structures at both companies while injecting fresh growth capital. The deal represents a strategic divestment for Andrew Industries as it rationalises its corporate portfolio to focus on core operations.
Mark Bennett, chief executive of Andrew Industries, said: “The BMP companies and RB Medical have been important parts of Andrew Industries, and we are proud of what the teams have accomplished. Nova Capital is the right long-term owner to support the businesses in their next phase of development and growth.”
David Williamson, founder and managing partner of Nova Capital, added: “We are delighted to welcome the BMP Group and RB Medical into the Nova Capital portfolio. These are excellent businesses with strong technical capabilities, highly respected customer relationships and talented management teams who have built impressive foundations over many years.”
