Synseal is making big news again this month, announcing that it has acquired the business of Permacell Finesse (PFL) from The Laird Group PLC (Laird). This means Synseal is arguably the largest supplier of PVC-U systems in the UK.

PFL supplies PVC-U profiles to the UK window market and cellular foam PVC-UE profiles to plastic stockists from its premises in Essex. It has been acquired by a subsidiary of Synseal Holdings Limited for a cash consideration of £10.25 million on a debt free basis. PFL's revenues are circa £30 million, and net assets which are the subject of the transaction are approximately £12 million.

Gary Dutton, Chairman of Synseal: ‘PFL is profitable, and an established, respected name in this industry. We've always admired its brands and respected the loyalty of its customers. Unlike Laird, our core business is focused on windows, door, and conservatory systems, and associated markets. So, we believe we will be able to unleash its full potential with the additional investment and resources Permacell Finesse needs to develop its products, along with strong marketing to build its brands and help its customers grow.’

Source

Glass Age