Matrix was founded 30 years ago and has grown to become the UK’s leading independent player in the UK cutting tools market, which is estimated to be worth £450m. Its products are used in a number of industries, including aerospace, medical, general engineering, defence, energy and automotive.

Matrix will continue to operate from its base in Nottingham and under its own brand, offering a network of highly specialist cutting tool application engineers. It will work independently to Brammer Buck & Hickman, a Rubix UK business. Matrix co-founder, Mark Mills, will continue in his role as Managing Director. He will report to Mark Dixon, CEO Rubix UK, Ireland and Iceland.

Mark Dixon said: “We are delighted to welcome the Matrix community of employees, suppliers, and customers, into the Rubix family. There is compelling logic on both sides for this deal.

“The acquisition is in line with the company’s strategy to expand its product categories and supporting specialist technical capabilities. Matrix is a strong business with a good record for organic growth that develops our offer in the technical cutting tools market. Rubix offers Matrix access to a wide customer base in the UK.”

Mark Mills said: “This transaction is a significant step forward in the trajectory of this business. It is a testimony to the technical expertise of our people, our commitment to looking after our customers, and the strong relationships we have nurtured over time with our suppliers and customers. With Rubix, we are well positioned to develop our business further and accelerate our growth potential.

“It was fundamentally important that Rubix shares our culture and values, and in particular, the principle of combining deep technical understanding of customers’ requirements, highly skilled engineering expertise and long-standing supplier relationships.”

Rob Donnelly, Matrix’s co-founder, will be taking the opportunity to retire after 30 years of helping to build the company into a market leading player. The Rubix board and Matrix leadership team would like to sincerely thank Rob for his commitment and enthusiasm, and all the work he has done in developing Matrix into the strong business it is today.