MOSCOW (MRC) -- Polyplastic Group, the Russian and CIS market leader in plastic processing, completed the
acquisition of Radius Systems, the UK pipes and fittings maker, with the help of Eversheds, reported Eversheds on its site.
The sum of transaction is not disclosed.
Global law firm Eversheds has advised the shareholders of Radius Systems Limited on the disposal of Radius Systems to Polyplastic Group. The Eversheds’ team was led by Principal Associate, Alistair Cree.
"We are pleased to have helped the shareholders of Radius complete this significant disposal. The future partnership between Polyplastic and Radius represents a strong alignment between two premium businesses and should provide real growth opportunities for both parties," Alistair commented.
"The completion of this acquisition is exceptionally good news for the Radius Group and should be welcome reassurance for both our loyal employees and those suppliers who have supported the business through a tough two year period. Alistair and his team provided excellent advice, assistance and service throughout culminating in the successful completion of the deal," said Andy Taylor, CEO of Radius Systems.
We remind that, as MRC informed previously, last summer Polyplastic Group (Moscow, Russia) and Talis Group (Rodgau, Germany) announced strategic cooperation with regard to selling Talis production in the Russian market and its inclusion in Polyplastic Group's range of products.
Radius Systems’ business involves the development and manufacture of plastic pipes and fittings for the gas, water and wastewater sectors, as well as the production of solutions for the telecoms market. Radius generated net sales of over EUR100 million in 2012 and employs 370 people at its facilities in Hilcote (Derbyshire), Banbridge and Lurgan (both in Northern Ireland).
Polyplastic Group was founded in 1991 and is today the leading European supplier of thermoplastic compounds and polyethylene piping solutions for infrastructure markets, with production plants in Russia, Ukraine, Belarus and Kazakhstan.
MRC