UK's Polypipe set for London stock market float

PRW

Published: March 18, 2014 10:06 am ET
Updated: March 18, 2014 10:08 am ET

Related to this story

Topics Mergers & Acquisitions, Construction, Extrusion, Pipe/Profile/Tubing

Polypipe Ltd., the privately-owned Doncaster, England-based manufacturer of plastic piping systems, announced March 18 that it plans to float on the London Stock Exchange next month.

The group said the offer of half the company’s available shares — currently owned by existing shareholders company including senior management and the firm’s principal shareholder, Cavendish Square Partners, a private equity outfit — would be made to institutional and professional investors.

Earlier reports suggested the float could value the Polypipe business at more than 400 million pounds (US$664 million).

David Hall, Polypipe’s chief executive, said: “I am delighted to be leading Polypipe’s return to the public markets after an important phase of structural improvements under the current owners.

“Our business has emerged strongly from the construction downturn and is now well-invested and well positioned to take advantage of new market opportunities.

“The structural trends in our market — the substitution of legacy piping materials for modern plastic systems and regulatory support for carbon efficiency and water management solutions — provide a strong basis for continued growth in the coming years.”

Group chairman Alan Thomson said: “The company has a great corporate culture, reinforced by the fact that a large number of Polypipe’s management are also equity shareholders.

“This has the advantage in the market of aligning management to long-term value creation and is one of the key reasons why the business has emerged stronger than its competitors following a tough few years.”

Polypipe derives more than half its sales in the United Kingdom. Founded by former plumber Kevin McDonald in 1980, Polypipe recorded sales of 300.8 million pounds in 2013, with operating profit of 39.7 million pounds.


Comments

UK's Polypipe set for London stock market float

PRW

Published: March 18, 2014 10:06 am ET
Updated: March 18, 2014 10:08 am ET

Post Your Comments


Back to story


More stories

Image

Green trend boosts plastic building materials business in China

August 29, 2014 9:42 am ET

The greening of China's domestic building materials market is giving the plastics industry a boost.    More

Polish injection molder Teknorubber up for sale

August 29, 2014 9:14 am ET

Polish plastic parts maker Teknorubber has been put up for sale following its insolvency filing in March 2014. The company is to be auctioned through ...    More

Image

Obituary: Frank Nissel, Welex Inc. co-founder

August 28, 2014 1:01 pm ET

Friends, family and business acquaintances will remember Nissel as an urbane, outgoing machinery executive, an expert on extrusion, a globalist who...    More

Image

Truce? ACC, US Green Building Council agree to work together on LEED

August 28, 2014 12:08 pm ET

The American Chemistry Council (ACC) and the U.S. Green Building Council (USGBC) announced Aug. 27 that they will be working together on a new...    More

Image

Canadian mold maker Thibault adding to new operation in Mexico

August 27, 2014 3:19 pm ET

Canadian mold maker I Thibault Inc has purchased an established Mexican company, Tecnimoldes SA de CV, for a seven-figure-dollar-sum and renamed it Ti...    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events