Building products group Epwin makes £15m acquisition
Building products group Epwin has made a new acquisition.
Epwin, which has a site in Telford, has acquired UK materials re-processor Poly-pure for an initial consideration of £15 million in cash. It said it will acquire the company on a cash-free debt-free basis.
Established in 2018 and based in Norwich with 25 employees, Poly-Pure supplies re-processed PVC to a diverse customer base.
In Poly-Pure's financial year ended July 31 2022, it expects to report revenues of £10 million.
Jon Bednall, chief executive of Epwin, said: "I am pleased to welcome Poly-Pure to Epwin. Poly-Pure is a high-quality, growing business and a strong strategic fit, which will enable us to further bolster our recycling capabilities and accelerate delivery of our sustainability agenda.
"We see good opportunities to derive synergistic benefits with our existing operations, increase the proportion of recycled material used in our products and further improve the already strong environmental credentials of the group's products. The acquisition also furthers our strategy of broadening our materials capabilities for the future. We welcome Poly-Pure's management and employees to the Epwin Group."
