Indutrade expanding in the UK with the acquisition of CRP
ET | Source:Indutrade AB
Indutrade acquired today all of the shares in Corrosion Resistant Products Ltd
(CRP), with annual sales of £10 million.
CRP manufactures and distributes fluoropolymer lined equipment for the bulk
chemical, fine and speciality chemical and pharmaceutical industries. Their
products include high integrity lined piping and expansion bellows in paste
extruded PTFE. These are complemented with ball valves, plug valves, check
valves, sight glasses and sampling systems – all for customers requiring the
highest levels of corrosion performance from their manufacturing plant.
Nigel Price, CEO and former shareholder in CRP said “CRP has grown consistently
over the last 32 years to become a global supplier of its specialist product. We
have known Indutrade for many years and see the purchase by them as a natural
evolution of the business; one which continues to preserve and value what has
made CRP successful, whilst at the same time bringing the financial security of
belonging to a larger group. Indutrade’s business methods are refreshing and
represent an excellent fit for a company such as ours where continuity of
approach to our customers is critical. Under their banner we should go from
strength to strength.”
“Indutrade has made several acquisitions in the UK recently and we are glad to
further strengthen our market position with the acquisition of CRP”, comments
Johnny Alvarsson, CEO of Indutrade.
Possession will be transferred today, and the company will be part of
Indutrade’s Special Products business area. The acquisition is expected to have
a marginally positive impact on Indutrade’s earnings per share.
Stockholm, 13 May 2014
INDUTRADE AB (publ)
For further information, please contact: Johnny Alvarsson, President and CEO: 46
70 589 17 95
Indutrade markets and sells components, systems and services with a high-tech
content within selected niches. Indutrade's business is distinguished by
- high-tech products for recurring needs
- growth through a structured and tried-and tested acquisition strategy
- a decentralised organisation characterised by an entrepreneurial spirit.
The Group is organised into five business areas: Engineering & Equipment, Flow
Technology, Fluids & Mechanical Solutions, Industrial Components and Special
Products. Indutrade's sales totalled SEK 8,831 million in 2013, generating
operating income of SEK 990 million before depreciation of intangible assets.
Indutrade is listed on the Nasdaq OMX Stockholm.
GlobeNewswire, a Nasdaq company, is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
2321 Rosecrans Avenue.
El Segundo, CA 90245 Phone: (800) 307-6627 Fax: (800) 307-3567
25 Basinghall Street,
London EC2V 5HA
UK Phone: +1 866-465-8454