Epwin Group: Acquisition Extends Product Range
Edison | Nov 05, 2015 12:22AM ET
Acquisition extends product range
Vannplastic is Epwin's (L:EPWN) first acquisition since listing in July 2014. It adds complementary product and materials technology to the group’s portfolio on a c 5x EBITDA entry multiple (£5.2m initial consideration). Its trading update indicates that underlying group profitability is in line with our existing estimates and the acquisition enhances EPS by 2-3% in a full year.
Ecodek products broaden range offering
Epwin has acquired the manufacturer of Ecodek, which is a range of decking and balcony products made predominantly using recycled hardwood fibres and HDPE via an extrusion process. These wood plastic composite products are mainly sold into new build and social housing sectors, and also address other project demand. The Wrexham-based company was founded in 2002 and moved into a new 38,000sq ft factory facility at the end of 2012, which is currently in the process of adding a fifth extrusion line. Management will be staying on with the business. Epwin expects to introduce Ecodek lines into its own distribution offering and, by sharing extrusion expertise, be able to develop new products in due course.
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