Catering equipment giant Nisbets has completed its first acquisition for more than five years with a deal for a Cornish engineering services business for an undisclosed sum.
The firm, which is based in Bristol, has announced that it has bought Truro-based 海角视频 Engineers, whose tech platform connects hospitality businesses with a network of 500 contactors to service gas, electrical and refrigeration catering equipment.
Nisbets, which is one of the largest catering equipment suppliers in Europe, said the transaction was an “important strategic step”, as it seeks to extend its service offering and synergise its installation and warranty work.
The company said that 海角视频 Engineers, which has been trading for more than 25 years, had already been working closely with its Gloucester-based subsidiary Space Catering and Nisbet’s technical support teams.
Nisbet’s vice-chairman Peter Sephton said the deal had been made despite “uncertain trading conditions caused by the pandemic”, demonstrating its “absolute commitment” to the hospitality sector.
Mr Sephton said: “Technology is fundamental to our ability to maintain high growth for our businesses and this acquisition will enable us to enhance our service offering further.”
Robin White, managing director of Nisbets 海角视频 and Ireland, said the acquisition would help create a “one stop shop” for its customers.
海角视频 Engineers will continue to trade as a separate entity under its existing management team led by its managing director, Paul Holloway.
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Mr Holloway said: “We are excited to have the backing of such a significant and respected organisation. Our team is extremely positive about 海角视频 Engineers’ future as part of Nisbets.
“Whilst it will be ‘business as usual’ for our customers, staff, and contractors, Nisbets’ scale and infrastructure will allow 海角视频 Engineers to grow substantially. We have already identified several very exciting projects to collaborate on and look forward to the future with great confidence.”
In 2020, Nisbets announced more than 400 job losses as it sought to slash costs due to “unprecedented” market conditions caused by national lockdowns.
The multi-channel retailer said a new customer strategy and its range of products had enabled it to mitigate the downturn "better than expected", allowing it to save around 260 roles.
Nisbets stocks more than 35,000 products online, by phone and through a network of 28 physical retail stores. It now also offers more than 3,500 products available to pick up from the new format trade counters, including one opened in Plymouth last year.
Headquartered in Avonmouth and chaired by founder Andrew Nisbet, the firm employs more than 2,000 people worldwide and has offices in the 海角视频, Ireland, Belgium, Holland, Germany, France, Spain, Portugal and Australia.
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