Plastics recycling specialist acquired for £15m
Building materials firm Epwin has acquired Norwich-based plastics recycling specialist Poly-Pure for £15m.
The deal, advised by a corporate finance team from Grant Thornton, was seen as a strong strategic move by Solihull-based Epwin as fast-growing materials re-processor Poly-Pure recycles post-consumer and post-industrial PVC building materials, notably UPVC window frames.
In Poly-Pure’s financial year ended 31 July 2022, it expects to report revenues of £10m and adjusted EBITDA of £2.5m.
Grant Thornton’s second transaction, which was also led by Corporate Finance Director Stuart Davies, was the sale of Computer Service Centreby its founders Christopher Cooper and Jeremy Clarke to private-equity-backed managed IT services provider Acora.
Founded 25 years ago, the Norwich-based company has 60 staff and is a leading provider of IT managed services to more than 100 SMEs in the South and East of the UK.
The acquisition, for an undisclosed sum, was Acora’s seventh in the last five years and enables it to offer a new service line in the 50-250 user market.
Stuart Davies of Grant Thornton said: “We are delighted to have delivered excellent outcomes for the entrepreneurs behind Poly-Pure and Computer Service Centre.
“In both cases there are compelling reasons for the sales and both companies will now be able to accelerate their already impressive growth by being part of larger businesses.
“Despite a more challenging economic environment, the M&A market remains strong in Norfolk and East Anglia alike, with continuing trade and Private Equity appetite for good quality businesses , which is reflected in both these excellent deals.”
Mr Davies was assisted by Adam Furrer in the Computer Service Centre transaction and Ned Brown on the Poly-Pure deal.