DGAP-Adhoc: SIMONA Aktiengesellschaft: SIMONA acquires leading UK manufacturer of PE pipe systems

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DGAP-Ad-hoc: SIMONA Aktiengesellschaft / Key word(s): Takeover
SIMONA Aktiengesellschaft: SIMONA acquires leading UK manufacturer of PE pipe systems

28-Feb-2022 / 14:30 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


SIMONA acquires leading UK manufacturer of PE pipe systems

Kirn, 28 February 2022. With effect from 28 February 2022, SIMONA AG has acquired 100 percent of the share capital of PEAK Pipe Systems Limited (PEAK), based in Chesterfield, United Kingdom, from BRIDGSTOCK Limited, a family-run holding company, also headquartered in Chesterfield.

PEAK is one of the UK's leading manufacturers of high-quality polyethylene pipe systems. For more than 50 years, PEAK has been providing innovative solutions for the growing UK infrastructure market, with a particular emphasis on electric and water utility sectors, as well as aquaculture. The company employs 66 people and generates revenue of approximately €40 million p.a.

The acquisition will underpin SIMONA Group's strategic realignment, the aim being to achieve a strong focus on applications, while supporting the Group in its efforts to achieve its growth targets in the infrastructure and aquaculture markets within the EMEA region. Furthermore, the Group's product portfolio in the UK will be expanded significantly as a result of the acquisition, while its overall position in this attractive, segregated market will be further improved.

With a solid level of profitability, high growth rates, an experienced management team, dedicated employees and a strong focus on quality and customer satisfaction, PEAK offers a high strategic fit for the SIMONA Group. Customers will benefit from an expanded product range, fast delivery times and system solutions from a single source.


28-Feb-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: SIMONA Aktiengesellschaft
Teichweg 16
55606 Kirn an der Nahe
Germany
Phone: 06752-14-997
Fax: 06752-14-738
E-mail: eric.schoenel@simona-group.com
Internet: www.simona.de
ISIN: DE000A3E5CP0
WKN: A3E5CP
Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Munich, Stuttgart
EQS News ID: 1289417

 
End of Announcement DGAP News Service

1289417  28-Feb-2022 CET/CEST

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