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.
About Barclays Corporate
With a clear focus on quality relationships, Barclays Corporate provides integrated banking solutions to businesses with an annual turnover of more than £5 million in the UK and large local companies, financial institutions and multinationals in non-UK markets. We facilitate the success and growth of our clients by providing lending, risk management, cash and liquidity management, trade finance and asset and sales financing. Additionally, our clients benefit from the breadth of the Barclays Group, through access to the investment banking services of Barclays Capital including debt and equity capital markets, the private wealth management expertise of Barclays Wealth, and the card and payment services of Barclaycard. Barclays Corporate employs over 10,000 people globally. For more information please visit .
About Barclays
Barclays is a major global financial services provider engaged in retail banking, credit cards, corporate and investment banking and wealth management with an extensive international presence in Europe, the Americas, Africa and Asia. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs over 145,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide. For further information about Barclays, please visit our website .
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