FloPlast has been acquired by Wienerberger AG
FloPlast and Cork Plastics has been acquired by Wienerberger AG, a leading provider of smart solutions for the entire building envelope and innovative infrastructure solutions.
FloPlast has been established for 30 years and the current shareholders have invested in and developed the business to become a leading manufacturer and supplier of plastic building and plumbing products and solutions to the UK market.
This is an excellent opportunity for both companies, and one that will allow FloPlast to flourish under the custodianship of an international partner. Wienerberger, with its Pipelife brand, is one of the world’s leading producers of plastic pipe systems, with a presence in 26 countries across Europe and in the USA. The acquisition will allow the two companies to synergise its products and systems; this will strengthen our product offering and enable us to better meet the technical, environmental, and regulatory requirements of our customers, whilst ensuring product sustainability for the future.
The directors will remain in place to ensure a smooth transition to the new ownership with Stewart Norris being appointed CEO and Bryan Lynch undertaking a consultancy role. Wienerberger are committed to all the company’s stakeholders, including all employees, customers and suppliers and they intend to grow the business significantly in the coming years.
Rothschild & Co advised on the sale of this transaction. For further detail please contact Graham Carberry.