Polypipe acquires surface water manager Permavoid for up to £16.5m
Source - SMW
Plastic piping and ventilation system supplier Polypipe Group said it had acquired surface water management group Permavoid for up to £16.5m.
The payment included an initial cash consideration of £4.0m and deferred payments of up to £12.5m depending on Permavoid's earnings performance over two years.
'Permavoid's products are uniquely placed to deal with urban water management challenges which are increasing due to the impacts of climate change and urbanisation,' Polypipe said.
Key applications of products included urban drainage systems, green infrastructure, Bluegreen roofs, podium decks and sports surface applications.
For the year to 30 September 2018 Permavoid was expected to record revenue of £3.8m and adjusted Ebitda of £0.5m.