NuAire bought by Polypipe
7th August 2015
UK: Ventilation, heat recovery and ahu manufacturer NuAire is set to be acquired by plastic piping firm Polypipe for £145m.
Established in 1966, the Caerphilly-based Nuaire Group was acquired by current owners Electra Partners in 2007. Its products are available in over 40 countries and boasts an annual turnover of £67m.
“We have long been an admirer of Nuaire and this acquisition provides a perfect fit for us,” said Polypipe chief executive David Hall.
“Nuaire expands considerably our product platform and market reach within the growing ventilation sector, which, like other parts of our business, are being positively impacted by environmental legislative change. Nuaire will continue to operate as an independent division, as we leverage the capabilities of the combined group to drive growth, bringing more choice to our broader customer base.”
The acquisition is said to be in line with Polypipe’s strategy to broaden its market reach in high-growth products which benefit from environmental legislation aimed at reducing the UK’s carbon emissions. Polypipe says it has targeted ventilation for some time, having built a solid understanding of the sector from its portfolio of ducting systems. Nuaire will complement this understanding through its in-depth knowledge and experience of mechanical ventilation.
It is anticipated that the senior management of Nuaire will remain with the combined business.
The deal is expected to be completed by the end of August.
