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DGAP-Ad-hoc: SIMONA Aktiengesellschaft / Key word(s): Takeover
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.
|55606 Kirn an der Nahe|
|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