Nova Capital Management exits Carbolite

Nova acquired Carbolite in November 2007 as part of a portfolio of six non-core businesses previously owned by Barloworld of South Africa. The initial deal was valued at less than £50m.

Company
Carbolite is a British manufacturer of high-temperature ovens and furnaces for industrial purposes. Headquartered in Derbyshire, Carbolite uses around 100 distributors in the UK, Germany, France and the US.

Established in 1938, Carbolite employs 160 people.

People
Adam Robson, operating partner, led the exit for Nova. He is also stepping down as director of Carbolite. He will be replaced by a representative of Verder.

Advisers
Vendor – Lincoln International (M&A); Simmons & Simmons (Legal).

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• Topics
• Exits
• UK / Ireland
• Industrials
• United Kingdom
• Trade sale