Derbyshire manufacturer sold to German listed firm

Bridgstock, the family-run group of companies in Chesterfield, has sold its PEAK Pipe Systems business to SIMONA, a German listed global supplier of thermoplastics.

PEAK is a manufacturer of polyethylene pipe systems that has been established for over 50 years. The firm has a particular emphasis on electric and water utility sectors, as well as aquaculture. It employs 66 people and generates revenue of £33.5m.

Matthias Schönberg, chairman of the board of SIMONA, said: “PEAK opens up growth potential for us in the infrastructure, aquaculture and renewable energy markets, which we intend to cultivate in a targeted manner with the help of our EMEA business-line organisation launched in 2021. Boasting a solid level of profitability, high growth rates, an experienced management team, dedicated employees and a strong focus on quality and customer satisfaction, the company is a very good fit for SIMONA Group. Our customers will benefit from an extended product range, fast delivery times and system solutions from a single source. We look forward to working together.”

Russ Brown, managing director of PEAK, added: “SIMONA has been a trusted partner of our business for over 30 years. We see synergies at all levels of our organisation – culture, products, know-how, customer focus, can-do attitude – these make us very positive about the future. We are also excited to explain to our customers how much more we will now be able to offer to them. The history of PEAK is a proud one, indeed the entrepreneurial spirit of Eric Bridgstock still drives us every day, we now look forward to the next chapter with enthusiasm and with a smile on our faces!”.

Molly Warwick, a Bridgstock family representative, said: “When the Bridgstock family decided to sell the PEAK business the list for potential acquirers was short – based primarily on cultural fit and the passion to take the PEAK business to the next level. In SIMONA Group we are confident that we could not have found a better home for the PEAK business. We now say goodbye to our friends and colleagues knowing they are in safe hands for the future.”

Bridgstock was advised by Roger Esler and Matt Spence at Dow Schofield Watts (corporate finance) and Richard May and Conor Boyle at DLA Piper UK (legal).

Esler said: “It has been a pleasure to advise Bridgstock on this strategic and synergistic cross border deal to make PEAK part of the SIMONA Group. The strong cultural and commercial fit with SIMONA provides an excellent opportunity for ongoing investment and growth in this fantastic and long-established regional business.”