LDC exits ADEY to Polypipe Group in £210m transaction
11 Feb 2021
With LDC’s support, we have scaled significantly both at home and overseas in the last four and a half years, enabling us to provide our customers around the world with the best possible preventative solutions in the heating systems market."
“We are excited to be joining Polypipe and by the growth opportunities ahead. The companies share a similar culture and philosophy, focused on delivering sustainable water and climate management solutions. The combined business will allow us better to serve our customers, which will continue to be the foundation for our future success.”
Dewi Hughes, Head of LDC in the South West, added: “ADEY is at the forefront of its industry and, during our partnership, has further proven its ability to innovate and to scale internationally. The business has the perfect platform and team to press on with its international growth plans as part of a wider group. We wish Matt and the team the very best on the next phase of their exciting journey.”
ADEY and LDC were advised by Rothschild and Osborne Clarke, and transaction support was provided by PWC and OC&C. Management were advised by Deloitte and Squire Patton Boggs.