Local plumbing products firm sold to northern plc

ADVISORY firm Bracebridge Corporate Finance has advised the shareholders of Birmingham plumbing product group Surestop on its sale to South Yorkshire’s Polypipe Group.

The financial terms of the deal have not been disclosed.

Erdington-based Surestop manufactures and supplies a range of plumbing products to home owners, social housing landlords and builders and plumbers merchants across the UK.

The company, owned by Alan Vurlan and Martin Dalton, has shown double digit growth over the last few years.

The owners have gradually stepped back from the day to day operations of the business and allowed the management team to take the business forward.

Vurlan commented: “We are extremely proud of the entire team at Surestop and we have every confidence that the company will continue to expand under Polypipe’s ownership.

“Finding the right home for Surestop was very important to us.

“The Surestop stopcock is a unique product, invented by my business partner and a fine example of British ingenuity. The product protects property from the risk of water damage, allowing mains water to be easily turned off in an emergency at the flick of a switch.”

The shareholders appointed Birmingham-based Bracebridge to explore the strategic options for exit and to advise on a targeted sale process. Doncaster-based Polypipe, which floated on the stock market in April 2014, emerged as the preferred bidder.

Polypipe is the largest manufacturer in the UK of plastic pipe systems for the residential, commercial, civils and infrastructure sectors.

Peter Shepherd, Polypipe’s finance director said: “We are delighted to add Surestop to our group. We are committed to supporting the management team to continue to grow the business.”

Andy Moore, managing director of Bracebridge, said: “This is an excellent result for the shareholders of Surestop as it fitted perfectly with their retirement plans.”

Legal advice to the vendors was provided by David Stevenson of Shakespeares.