Last checked at 15 Dec 2023 07:00
15 December 2023
THE ALUMASC GROUP PLC
('Alumasc' or 'the Group')
CMA clearance on proposed acquisition of ARP Group
Alumasc confirms that the UK Competition and Markets Authority ('CMA') has today formally issued unconditional clearance in relation to Alumasc's acquisition of ARP Group, which is now expected to complete by 31 December 2023.
Paul Hooper, Chief Executive of Alumasc, said: "This acquisition aligns with our strategy to accelerate our organic growth with earnings enhancing bolt-on acquisitions, and we are delighted that it has cleared its final regulatory hurdle. We are excited about the scaling up opportunities this transaction brings to both companies and look forward to welcoming the ARP team into Alumasc Group."
Certain information contained in this announcement would have constituted inside information (as defined by Article 7 of Regulation (EU) No 596/2014), as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018) ("MAR") prior to its release as part of this announcement and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations. The person responsible for making this announcement on behalf of the Company is Helen Ashton, Group Company Secretary.
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Enquiries:
The Alumasc Group plc +44 (0)1536 383844
Paul Hooper (Chief Executive)
Simon Dray (Group Finance Director)
Peel Hunt LLP (Broker) +44 (0)207 418 8831
Mike Bell
Ed Allsopp
Cavendish Capital Markets Ltd (Nominated Adviser) +44 (0)207 220 0561
Julian Blunt
Edward Whiley
Camarco (Financial PR)
Ginny Pulbrook +44 (0)203 757 4992
Rosie Driscoll +44 (0)203 757 4981
Email: alumasc@camarco.co.uk
Notes to Editors:
1 Alumasc is a UK-based supplier of premium sustainable building products, systems, and solutions. Almost 80% of Group sales are driven by building regulations and specifications (architects and structural engineers) because of the performance characteristics offered.
2 The Group has three business segments with strong positions and brands in their individual markets. The three segments are: Water Management; Building Envelope; and Housebuilding Products.
3 The Group announced the proposed acquisition of ARP Group on 25 July 2023, subject to the UK Competition and Markets Authority indicating that it has no further questions in relation to the acquisition, and that it does not intend to make a Phase 2 referral.