ADEY is the UK’s market leader in solutions to protect water-based heating systems.

Investment type
  • Management buyout
Exit type
  • Trade sale
Exit date

February 2021

Exit value


The Team
LDC Team
Quote mark

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.”

Matthew Webber, CEO

Continuing international growth

In February 2021, LDC exited its investment in ADEY to Polypipe Group plc (Polypipe) a leading provider of sustainable water and climate management solutions for the built environment, in a £210m transaction.

As part of Polypipe, ADEY will be able to further accelerate its international growth.

Quote mark

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.”

Matthew Webber, CEO


The Sunday Times International track 200


The Queen’s Award for Enterprise


Deal of the Year

ADEY – Insider South West Dealmakers