Wood & Panel

SURTECO acquires the British Nenplas Group

 Wednesday, December 7, 2016

surtecoSURTECO SE, one of the world´s leading manufacturers of surface materials and a producer of technical extrusions (profiles), has acquired 85 % of the shares in the Nenplas Group headquartered in Ashbourne, UK, and a 100 % shareholding of the associated property company through its subsidiary company Döllken-Weimar GmbH. A purchase contract was concluded for this acquisition with effect from 1 December 2016.

The Nenplas Group has specialised in the production and sale of all types of technical extrusion profile based on plastic. In the business year 2015/2016, with a workforce of some 140 employees the group generated sales of GBP 16.6 million and earnings before financial result, income tax and amortization of goodwill (EBITA) of GBP 3.8 million in accordance with UK GAAP (EBITA margin: 22.9%).

The Nenplas Group includes the companies Nenplas Ltd, Ashbourne, Polyplas Ltd, Stourport-on-Severn, and Delta Plastics Ltd, Wolverhampton, all based in the UK.

The purchase price for 85% of the shares amounts to GBP 20.8 million and for the property company it is GBP 2.5 million. SURTECO is holding an option to purchase the remaining 15% of the shares and the seller is retaining a sale option. The voting and dividend rights of the remaining 15% are excluded. SURTECO is financing the transaction from existing liquid funds.

The SURTECO Group with a sales turnover of € 638.4 million in 2015; EBIT of € 31.1 million; and approximately 2,700 employees, intends to strengthen its market presence in the United Kingdom in the area of technical profiles through the takeover of this company, and increase the Group’s profitability.


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