Polypipe has agreed to pay £52m for the acquisition of Manthorpe Building Products, which specialises in the manufacturing of moulded and extruded plastic and metal building products
Polypipe is paying Manthorpe Building Products owners Paul and Carol Pochciol £52m for their business, together with associated freehold land and buildings, on a cash and debt free basis.
Based in Derbyshire, Manthorpe’s product range includes dry fix roofing, ducting, cavity trays, loft doors, ventilation panels and plastic airbricks. It made a pre-tax profit of £4.9m in fiscal 2017 on turnover of £15.8m and has 100 employees.
Polypipe, which listed on the London Stock Exchange in 2014, said that the acquisition would add to its UK residential offering in the water and climate management sectors “with differentiated, patented value-adding products”.
Polypipe chief executive Martin Payne said: “The acquisition of Manthorpe Building Products is a perfect fit for us, expanding our product platform and market reach in the UK and Irish residential and RMI markets, which, like other parts of our business, are being positively impacted by legislative change.
“Manthorpe will be integrated into Polypipe’s Residential Systems segment, where we will leverage the capabilities and synergies of the combined group to drive growth. We are delighted to welcome Manthorpe’s management and employees to Polypipe and look forward to accelerating the strategic development of the enlarged group.”