Who we are

Group overview

Leading the way for our customers

With turnover of €2.3 billion in 2018, we are Europe’s largest supplier of industrial maintenance, repair and overhaul (MRO) products and services.

Our 650+ locations across 22 countries offer specialist expertise in specifying, providing and installing an unrivalled scope of industrial parts, with a tailor-made service for all customers.

Rubix has been ranked Number 27 on the 2019 Sunday Times HSBC Top Track 100, a league table for Britain’s top private companies with the biggest sales.

Sunday Times Top Track 100 2019

Sunday Times Top Track 100 2019

Our ambition

Transforming industrial products and solutions

Our ambition is to transform the delivery of industrial products and solutions across Europe for our customers. We’ll do this by focussing on our unique customer understanding, our differentiated technical expertise and our engaged, entrepreneurial workforce.

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Our brands

Our network puts us closer to our customers

We deliver our services through a number of brands across Europe. Select a brand to find out more about their services and locations:

Our markets

We deliver our services across Europe

We offer specialist expertise in specifying, providing and installing an unrivalled scope of industrial parts, with a tailor-made service for all our customers. We deliver our services through a number of brands across Europe. You can also purchase our products directly from us online. Please note that the full portfolio of products and services may not be available in all countries. Reach out to the country contact for more details.

Our financials

Our financial results

We have a strong track record of profitable growth, with 2018 continuing to demonstrate significant EBITDA growth, both in terms of absolute EBITDA and EBITDA as a percentage of sales.

€m 2018 2017* 2016*
Sales 2,284.8 2,202.5 2,063.5
EBITDA 196.5 162.5 144.5
As a % of sales 8.6% 7.4% 7.0%
Run Rate EBITDA 227.3
As a % of sales 9.9%
Run Rate EBITDA plus proforma synergies 260.6
As a % of sales 11.4%

EBITDA – Earnings before interest, tax, depreciation and amortisation and one-offs. The financials above exclude discontinued operations.

*Rubix was formed from the merger of IPH and Brammer in September 2017. The 2016 and 2017 comparatives above are based on the full year results of the IPH and Brammer businesses, including the pre-acquisition results, and have been restated on a like-for-like basis to the EBITDA reported for 2018.

Our financing

The Group is supported by our debt providers BNP Paribas Fortis, Goldman Sachs, HSBC, Morgan Stanley, GSO and Lloyds, with our long term debt not repayable until 2024/2025.

Our debt carries one single financial covenant – the ratio of senior secured net debt (excluding preference shares and local facilities) and proforma EBITDA. This ratio must not exceed 7.45x. We remain significantly below this limit and in 2018 demonstrated a further reduction in gearing.

The Group held €101 million of cash at year end.

In addition to the fixed term loans, the Group has a €135 million committed revolving credit facility under which only €2 million was drawn at December 2018, leaving an available amount of €133 million.

Cash and undrawn facilities therefore totalled €234 million as at 31 December 2018.

On the strength of our recent financial performance, in November 2018 the Group successfully completed a refinancing resulting in additional fixed term loans of €90 million and a reduction in the interest rate over the existing fixed term debt.

This additional debt is being used in 2019 to assist us in acquiring businesses as part of our ongoing growth strategy.

 €m 2018 2017
Leverage ratio:
Consolidated senior secured net leverage 3.40x 3.49x
Covenant limit 7.45x 7.45x
Cash and undrawn facilities:
Cash balance at year end 101 110
Undrawn revolving credit facility 133 129
Total cash and undrawn facilities 234 239

Our Future

The merger of IPH and Brammer in 2017 provided a great platform on which to build the market
leading pan-European distributor of industrial products and services.

We are focusing in 2019 on improving our key product categories and value added services, on growing our
penetration of digital channels, as well as accelerating this growth through selective acquisitions.

Our healthy financial results, together with our robust cash and financing position, give us a strong platform
to achieve this growth.

Additional financial documents:

Rubix Group Holdings Ltd consol stats31 Dec 2018

Walker Guidelines Addendum

Rubix Group Snapshot

Acquisition strategy

Bringing new partners to the Group

Our Group draws its strength from the different businesses that have been brought together over time.

We see many opportunities for other businesses to join the Group and add to our capabilities. New partners will either extend our presence in our chosen markets or expand the range of products or services that we offer.

We value businesses with a strong track record of growth, strong customer focus ethos and with differentiated technical capabilities and know-how.

Our new partners continue to grow with us thanks to the benefits that come with being part of a larger, market-leading pan-European organisation.

If you think your business could help us to provide an even better service to the 220,000 customers we serve across 22 European markets and would consider becoming part of the Rubix Group, please get in touch at rubixmergers@rubix.com.

Recent acquisitions