Derbyshire manufacturer sold in £52m deal
Ripley-based designer and manufacturer of plastic and metal products to the residential sector Manthorpe Building Product has been sold to listed piping and ventilation firm Polypipe for £52m.
Manthorpe has around 100 employees across sales, R&D, despatch and manufacturing functions. Polypipe says there are “opportunities for both cost and revenue synergies” post-deal. It is anticipated that the management of Manthorpe will remain with the combined business.
Manthorpe turned over £16.4m and had an adjusted EBITDA of £6.3m for the twelve months ending 30 April 2018.
Martin Payne, Polypipe chief executive officer, 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.”
Polypipe is the largest manufacturer in the UK, and among the ten largest manufacturers in Europe, of plastic piping systems for the residential, commercial, civils and infrastructure sectors by revenue. It is also a leading designer and manufacturer of energy efficient ventilation systems in the UK.