Friday March 25, 2022

Transaction secures future for Stroud manufacturing site and the transfer of all 52 employees

Autonumis, the Stroud-based manufacturer of refrigerated drinks dispensers, bottle coolers and vending machines, has been acquired by Peak Analysis & Automation (‘PAA’), part of Directech Global.

Established in 1962, Autonumis is a light engineering company that employs 52 people and supplies its products to major brand owners, distributers and end users in the UK, Europe and across the world.

The business faced financial challenges during the COVID-19 pandemic, notably during the lockdown of the retail, leisure and hospitality sectors and with our support, the directors at Autonumis began a sale process to find an investor to take the business forward.

Jonathan Dunn and Gareth Morris, Director and Partner in our Restructuring Advisory team, were appointed as Joint Administrators on 16^th March 2022. They immediately completed a sale securing all jobs and the future of the manufacturing site, seeing Autonumis join laboratory robotics specialist PAA.

PAA is part of a South African manufacturing group, Directech, which is an engineering, procurement, construction and manufacturing business, with companies operating in a range of sectors, including robotics, machine building, tooling, guided vehicles, telemetry, packaging and spray painting. Directech through PAA also owns Peak Robotics a US-based company specialising in collaborative laboratory robots and plate storage.

Graham Keen, General Manager of Autonumis, said: “We’re thrilled to be joining Directech. The group’s backing provides critical investment to support our operations and our growth ambitions. Our team has been incredible during some challenging times during the pandemic. The interest from Directech is testament to the skills, experience and drive of all our people and we’re hugely excited about working together to take the business forward.”

A spokesperson for Directech said: “Autonumis brings an exciting range of new products to the Directech stable as well as an extended capability for vertical manufacturing and assembly and the development of new products into our current markets. We welcome Autonumis’ 52 employees to the Directech family.”

Jonathan Dunn, Director at FRP and Joint Administrator, added: “There are many fundamentally sound businesses that have struggled to recover from the pandemic, particularly those supporting the retail, hospitality and leisure sectors. Autonumis took proactive steps to address its financial challenges and is now embarking on a new journey as part of a global manufacturing group. It is a pleasure to have supported the team and secure a positive outcome for the business and its employees.”

We were advised on the deal by Michelmores LLP, PACT Property and Assets Limited and Hilco Streambank.