Kennedy’s Epwin to have £135m market value

EPWIN, the building products group more than 40% owned by Cheshire businessman and Sale Sharks owner Brian Kennedy, will be valued at £130m when trading in its shares begin on AIM.

Shares in the business, which is the latest to be led to the junior market by Manchester-based Zeus Capital, have been priced at 100p.

Epwin, which has one of its manufacturing bases in Cheshire, said  £10m in net proceeds from the placing will used to repay a proportion of the debt within the business, in combination with new debt facilities raised of £25 million.

Jon Bednall, chief executive officer of Epwin Group, said: “We are delighted with the strong support shown by our new investors and look forward to working with them to build on Epwin’s strengths and grow the business.

“Epwin was one of the first entrants into the PVC-U window market in the mid 1970s.  Since then the Group has broadened its product offering significantly, both organically and through acquisition, and grown market share. Today we believe there is potential for further organic growth in all business areas as well as opportunities to drive further sector consolidation and operational efficiencies.”