Polypipe completes Nuaire acqusition

(ShareCast News) - Plastic piping manufacturer Polypipe Group has completed the acquisition of Nu-Oval Acqusitions 1 (Nuaire) from Electra Partners for £145m.The London-listed company had originally announced the agreement to takeover the ventilation provider on 5 August, although the deal remained subject to shareholders approval."This acquisition provides a perfect fit for us," group chief executive David Hall said earlier this month."Nuaire expands considerably our product platform and market reach within the growing ventilation sector, which, like other parts of our business, are being positively impacted by environmental legislative change."Polypipe shares were down 0.73% to 341.00p at 1520 BST on Tuesday.