Clearwater UK has advised the shareholders on the sale of Manthorpe Building Products Holdings Limited (Manthorpe), and certain property assets, to LSE-listed Polypipe Group plc (Polypipe), in a deal valued at c.€58.5m (£52m).
Manthorpe is a leading designer and manufacturer of moulded, extruded plastic and metal products to the UK and Irish residential and RMI (repair, maintenance and improvements) markets.
The business is based in Ripley, Derbyshire, from where it sells to a diverse customer base of merchants and specialist distributors across the UK and Ireland.
Polypipe is the largest manufacturer in the UK, and among the ten largest manufacturers in Europe, of plastic piping systems for the residential, commercial, civils and infrastructure sectors by revenue. It is also a leading designer and manufacturer of energy efficient ventilation systems in the UK.
The acquisition is in line with Polypipe's strategy of broadening its market reach in water and climate management solutions, providing a “one stop shop” for its customers, and exploiting the key growth drivers of legislative tailwinds and legacy material substitution. Manthorpe is well-positioned to capitalise on these growth drivers given its range of differentiated, specifiable, value-adding product solutions. Its offering is complementary to Polypipe’s existing capabilities and will further Polypipe’s market leading positions in the water and climate management spaces.
