Alumasc Group PLC CMA clearance on proposed acquisition of ARP Group (9104W)
December 15 2023 - 2:00AM
UK Regulatory
TIDMALU
RNS Number : 9104W
Alumasc Group PLC
15 December 2023
15 December 2023
THE ALUMASC GROUP PLC
('Alumasc' or 'the Group')
CMA clearance on proposed acquisition of ARP Group
Alumasc confirms that the UK Competition and Markets Authority
('CMA') has today formally issued unconditional clearance in
relation to Alumasc's acquisition of ARP Group, which is now
expected to complete by 31 December 2023.
Paul Hooper, Chief Executive of Alumasc, said: "This acquisition
aligns with our strategy to accelerate our organic growth with
earnings enhancing bolt-on acquisitions, and we are delighted that
it has cleared its final regulatory hurdle. We are excited about
the scaling up opportunities this transaction brings to both
companies and look forward to welcoming the ARP team into Alumasc
Group."
Certain information contained in this announcement would have
constituted inside information (as defined by Article 7 of
Regulation (EU) No 596/2014), as it forms part of domestic law by
virtue of the European Union (Withdrawal) Act 2018) ("MAR") prior
to its release as part of this announcement and is disclosed in
accordance with the Company's obligations under Article 17 of those
Regulations. The person responsible for making this announcement on
behalf of the Company is Helen Ashton, Group Company Secretary.
END
Enquiries:
The Alumasc Group plc +44 (0)1536 383844
Paul Hooper (Chief Executive)
Simon Dray (Group Finance Director)
Peel Hunt LLP (Broker) +44 (0)207 418 8831
Mike Bell
Ed Allsopp
Cavendish Capital Markets Ltd (Nominated Adviser) +44 (0)207 220 0561
Julian Blunt
Edward Whiley
Camarco (Financial PR)
Ginny Pulbrook +44 (0)203 757 4992
Rosie Driscoll +44 (0)203 757 4981
Email: alumasc@camarco.co.uk
Notes to Editors:
1 Alumasc is a UK-based supplier of premium sustainable building
products, systems, and solutions. Almost 80% of Group sales are
driven by building regulations and specifications (architects and
structural engineers) because of the performance characteristics
offered.
2 The Group has three business segments with strong positions
and brands in their individual markets. The three segments are:
Water Management; Building Envelope; and Housebuilding
Products.
3 The Group announced the proposed acquisition of ARP Group on
25 July 2023, subject to the UK Competition and Markets Authority
indicating that it has no further questions in relation to the
acquisition, and that it does not intend to make a Phase 2
referral.
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END
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