By Maximilian Clarke
The Epwin Group and Latium companies have announced the merger of their UK building products manufacturing businesses to form a single group.
Owned jointly by existing shareholders Jim Rawson, chairman of the Epwin Group and Brian Kennedy, owner of Latium, the merger creates a new Group, Epwin Holdings.
With a combined turnover in excess of £275m and employing more than 2,500 people throughout the UK, it will be chaired by Rawson and led by a new senior board which will include Kennedy.
Jim Rawson, chairman, Epwin holdings said: “This represents a tremendous opportunity. The business groupings complement each other on many levels and the merger creates huge opportunities for our customers, staff and suppliers to benefit from the further development of a broad-based stable and financially secure group.”
Funding for the merged group has been provided exclusively by Barclays Corporate. Rawson added: “Barclays have a strong understanding of our business and the industry, were responsive and commercial throughout a complex deal process and we appreciate their support."
The Epwin Group is an integrated manufacturer and supplier of low maintenance building products to commercial, new build, retail and trade sectors. Flag-ship brands include Profile 22, Swish Building Products and Sierra.
The Epwin Group was founded by Rawson in 1976. Floated on the Stock Exchange in 1987, it was brought back into private ownership in 2000. More than a decade on, it continues to deliver a lead in technology and sustainable innovation to the UK building product industry.
As part of the merger agreement Latium businesses owned by Brian Kennedy including Spectus, Kestrel-BCE extrusion brands, as well as glass processing business CET, will become part of the new group.
Brian Kennedy said: “The merger is an exciting venture which is a natural combination of interests in a tough market and challenging economy. The deal brings together an enviable amount of industry knowledge in a way that will enable these businesses to continue to develop and grow for the long term.”
This includes significant synergy in the commitments both businesses have made to sustainable manufacture and innovation in building product technology. Going forward the merger will also increase access throughout the building product and construction industry more broadly to the leading PVC recycling technologies developed by the Epwin Group.
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