Alumasc Group Regulatory News (ALU)

1 Apr 2008 07:01

Alumasc Group PLC01 April 2008 1 April 2008 Alumasc acquires a leading UK supplier of green roofs The Alumasc Group plc (ALU.L), the premium building and engineering productsgroup, announces that it has further expanded its presence in the sustainablebuilding product arena through the acquisition of Blackdown HorticulturalConsultants Limited ("Blackdown"), a leading UK supplier of green roofs, forcash consideration of £2 million. Green roofs improve a building's thermal performance, increase rainwaterretention thereby reducing storm water run-off, and reduce the life-cycle costsof a roof by protecting it from climatic changes, UV light and mechanicaldamage. In addition, they provide wider benefits, such as helping to reduce theheat island effect within cities, increasing the absorption of CO2, increasingbiodiversity and improving the built environment more generally. The Mayor ofLondon announced on 27 February 2008 that he expects planning applications forall major developments in London to incorporate living roofs where feasible. Blackdown specialises in extensive green roofs, which are lightweight, requirelimited maintenance and no artificial irrigation. This type of green roofrepresents around two-thirds of the UK green roof market. The acquisition willcomplement Alumasc's leading position in the intensive green roof market throughthe ZinCo brand. Intensive green roof systems tend to be more complex thanextensive green roofs, including a need for irrigation, and usually provide anamenity for building occupiers. The combination of Blackdown with Alumasc's existing business will thereforeprovide greatly increased access to the rapidly expanding green roof market,whilst boosting demand for Alumasc's market leading waterproofing brands,Hydrotech and Derbigum, which are frequently specified as part of green roofsystems. This will enable Alumasc to supply clients with a complete roofingpackage from a single source. Alumasc will support Blackdown to realise itsgrowth potential through the provision of group resources in the areas ofmarketing and market development, technical support and administration. Blackdown's existing management team, including its two founder directors, JohnWilliams and Alun Tarr, will continue to manage the business under the"Blackdown" and "Greenroof" brands. They bring with them unique expertise in theplant technology and science associated with green roof specifications, and aproven track record in the supply and installation of high quality green roofsystems. Further information on Blackdown can be found at www.greenroof.co.uk. In the year to September 2007, Blackdown's audited revenues more than doubled to£1.5 million, with operating profits reaching almost £0.4 million. Net assets at30 September 2007 were £0.3 million. Of the total acquisition consideration of£2 million, £0.25 million will be deferred until the end of Blackdown's currentfinancial year to September 2008. Alumasc is funding the acquisition throughexisting committed debt facilities and expects the acquisition to be earningsenhancing within the first year of ownership. Paul Hooper, Chief Executive of The Alumasc Group, said: "Blackdown is anexcellent strategic fit for Alumasc, and increases the group's presence in oneof the fastest growing markets in the sustainable building product arena.Blackdown will complement Alumasc's existing green roof business, and we aredelighted to welcome into the group all of the Blackdown team, who bring withthem unrivalled expertise in this exciting market niche." Notes for Editors: Alumasc's sustainable building products facilitate energy and water management.The principal energy management products are Levolux solar shading systems(acquired in May 2007), MR Facades external wall insulation systems, and ZinCoand Blackdown green roofs. The principal water management products are GaticSlotdrain, Harmer and SML drains, Alumasc aluminium and Apex cast iron rainwaterproducts, and Hydrotech and Derbigum waterproofing products. Hydrotech andDerbigum are frequently specified as part of green roof systems. Photographs: Photographs of Blackdown extensive green roofs are available from Rose Oddy ofBankside Consultants, by email to rose.oddy@bankside.com Enquiries: The Alumasc Group plc 01536 383844Paul Hooper (Chief Executive) info@alumasc.co.ukAndrew Magson (Finance Director) Bankside Consultants LimitedCharles Ponsonby 020 7367 8851 charles.ponsonby@bankside.com This information is provided by RNS The company news service from the London Stock Exchange