A Dewsbury-based kitchen firm has been sold to Swedish listed company Nobia AB in £34million deal.
Rixonway Kitchens, which employs around 500 people at its base at Shaw Cross Business Park, has been manufacturing kitchens for the social housing sector in Yorkshire since 1978.
The firm has become a market leader since a buyout of the company, led by chief executive Paul Rose in 2006, with its revenues currently standing at around £40m.
Rixonway attributes its recent success to what it calls its market leading service proposition and unrivalled customer satisfaction. It is believed that the buyout will have strategic and financial benefits for both parties.
Mr Rose said: “It’s business as usual! The acquisition of Rixonway by the Nobia group is a great strategic fit for both businesses. Being part of a larger group will open up many opportunities for the business and we look forward to working closely with Nobia to realise our future growth plans.”
Nobia has operations in a number of European countries and already has a significant presence in the UK, which it says will be strengthened with this latest development.
Peter Kane, Head of Nobia Western Europe said: “It is very exciting for Nobia to strengthen its presence in the project market. The addition of Rixonway will complement our approach to the UK market very well. We welcome Paul and the team into the Western Europe Region and look forward to working together, sharing best practice and growing market share.”
Paul Trickett, Partner at Deloitte in Leeds, said: I’m confident the partnership with Nobia will help both businesses realise their exciting growth ambitions and continue to drive growth in Yorkshire’s manufacturing sector.”