Radius Systems, the UK’s leading supplier of PE pipes and fittings to the Gas and Water utilities sector, is pleased to announce the acquisition of 100% of the issued share capital of Aeon Group Holdings Ltd. on August 7, 2013.
KWD-globalpipe, 05.09.2013. Aeon, one of the leading global manufacturers and suppliers of valves to the fire protection, gas, water and oil exploration and transportation sectors, operates from three facilities in the United Arab Emirates (Dubai), Poland and the UK.
“After the acquisition of the Subterra brand in June (please see KWD-globalpipe 484, 25.07.2013, “RadiusPLUS acquires UK leading pipe rehabilitation specialist Subterra”), AEON is our second acquisition following the purchase of Radius Systems by POLYPLASTIC Group in February this year (please see KWD-globalpipe 473, 26.03.2013, “POLYPLASTIC Group acquires UK leading pipe producer Radius Systems”)”, Andy Taylor, CEO of Radius Systems, said. “Our new owners have had no hesitation in supporting this transaction which keeps us on course with our agreed strategy to complement our core pipe and fittings business with closely associated products, services and technologies and in so doing enhancing our value added to our customer base. We are extremely pleased to add the Aeon brand and technologies to our portfolio and look forward to welcoming a skilled and dedicated workforce into the Radius/POLYPLASTIC family.”
“I am delighted that Aeon is becoming part of a much larger group with wider geographical market access and a broader portfolio of products”, Derek Watson, Aeon Group CEO said. “As a result, the Aeon brand will not only become a core element in a comprehensive ’value added’ offering to a much wider and more diverse target market but will seriously enhance its value to existing customers. This is a great opportunity for the Aeon team to make a tremendous contribution to the future success of the new Group.”
The purchaser was advised by the Moscow office of CMS Cameron McKenna. The CMS team was led by Partner, David Cranfield with support from Gregor Kennedy.
“This is the second transaction on which CMS has advised Polyplastic Group”, David Cranfield of CMS, Moscow commented. “We are pleased to see that Radius Group, which Polypastic acquired in February 2013, is already transforming into an international operation through its own strategic acquisitions and CMS is delighted to support that process.”
About Polyplastic/Polymerteplo/Radius Group
Polyplastic/Polymerteplo is the Russian and CIS market leader in engineered polymer products. Polyplastic is the largest producer of PE pipes and fittings in Europe with a total annual production of about 250Ktonnes and the market leader in polymer composite materials supply to the automotive, white goods and building materials sectors in the Russia/CIS markets with annual sales of about 80Ktonnes. Polymerteplo is the leading manufacturer of District Heating Solutions in Russia/CIS with total annual sales in excess of 1,000 km. Radius is the leading UK producer of PE pipe and fittings solutions to all major utilities companies in the gas, water and telecoms sectors. The combined Group operates from 19 plants and exports to more than 50 countries worldwide. The Group has an annual turnover of about €1bn and employs in excess of 7000 people. The combined Group is headquartered in Moscow.
Contacts: Radius Systems Ltd., United Kingdom, www.radius-systems.com / POLYPLASTIC Group, Russia, www.polyplastic.ru / Polymerteplo, Russia, www.polymerteplo.ru email@example.com firstname.lastname@example.org