M&A Deal Summary

Polypipe Group Acquires Nu-Heat UK

On February 15, 2021, Polypipe Group acquired renewable energy company Nu-Heat UK from Bestport Private Equity, Beechbrook Capital, Ethos Partners and Murray Capital for 27M GBP

Acquisition Highlights
  • This is Polypipe Group’s 1st transaction in the Renewable Energy sector.
  • This is Polypipe Group’s 3rd largest (disclosed) transaction.
  • This is Polypipe Group’s 3rd transaction in the United Kingdom.

M&A Deal Summary
Date 2021-02-15
Target Nu-Heat UK
Sector Renewable Energy
Buyer(s) Polypipe Group
Sellers(s) Bestport Private Equity
Beechbrook Capital
Ethos Partners
Murray Capital
Deal Type Add-on Acquisition
Deal Value 27M GBP

Target

Nu-Heat UK

Devon, United Kingdom
website
Nu-Heat UK Ltd. is a provider of warm water underfloor heating and integrated renewable solutions, Nu-Heat is committed to delivering fully designed, energy-efficient systems to installers, housebuilders, contractors, architects, and self-builders nationwide. Nu-Heat UK was founded in 1992 and is based in Devon, United Kingdom.

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Buyer(S) 1

Buyer

Polypipe Group

Doncaster, United Kingdom

website

Category Company
Founded 1980
Sector Plastics
Employees3,139
Revenue 448M GBP (2019)
DESCRIPTION

Polypipe Group is a manufactures and sells pressure-rated high density polyethylene pipes. The company's products are used in natural gas distribution, oil and gas gathering, municipal water and waste water, industrial and mining, nuclear power, landfill, and irrigation markets. Polypipe Group was founded in 1980 and is based in Doncaster, the United Kingdom.

DEAL STATS #
Overall 3 of 3
Sector (Renewable Energy) 1 of 1
Type (Add-on Acquisition) 3 of 3
Country (United Kingdom) 3 of 3
Year (2021) 2 of 2
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-11 ADEY Innovation

Stonehouse, United Kingdom

ADEY Innovation Ltd. specializes in the design, manufacture, and supply of innovative products and services that significantly improve the effectiveness of domestic and commercial heating and cooling systems and water treatment systems. ADEY Innovation was formed in 2003 and is based in Stonehouse, United Kingdom.

Buy £210M

Seller(S) 4

SELLER

Bestport Private Equity

Investor Investor

website

Category Private Equity Firm
Founded 2005
Size Small
Type Sector Agnostic
DESCRIPTION

Bestport Capital LLP is a private equity group focused on buyout and growth investments in the UK. The Firm seeks to assist investee companies with key strategic and operational issues, and only backs experienced management teams. Bestport Capital was established in 2005 and is headquartered in London.

DEAL STATS #
Overall 4 of 4
Sector (Renewable Energy) 1 of 1
Type (Add-on Acquisition) 3 of 3
Country (United Kingdom) 4 of 4
Year (2021) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-21 Oracle Care & Education

Congleton, United Kingdom

Oracle Care & Education Ltd. is a provider of fully integrated therapeutic residential care and education for young people aged between 8 and 18 in Staffordshire and Bedfordshire. Oracle Care & Education was formed in 2006 and is based in Congleton, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-17 Playful Promises

London, United Kingdom

Playful Promises is a fast-growing e-comm business that has successfully developed a range of lingerie and swimwear for every occasion, body type, and at a variety of price points. Playful Promises was formed in 2004 and is based in London, United Kingdom.

Buy -
SELLER

Beechbrook Capital

London, United Kingdom

Investor Investor Investor Investor Investor

website

Category Mezzanine Finance Firm
Founded 2008
Size Small
Type Sector Agnostic
DESCRIPTION

Beechbrook Capital is a private investment firm focused on equity co-investments as well as providing mezzanine financing to lower middle-market companies. Beechbrook focuses its investment activity throughout Europe but can invest globally. The Firm will consider opportunities in a variety of industries. Beechbrook Capital was formed in 2008 and is based in London.

DEAL STATS #
Overall 3 of 4
Sector (Renewable Energy) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (United Kingdom) 3 of 4
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-14 Eque2

Maidenhead, United Kingdom

Eque2 provides business management software to customers in the construction, housebuilding, and contracting industries. The company's software enables builders, contractors, architects, engineers, and estimators to integrate the commercial and financial aspects of their business, driving efficiencies and ultimately improving profitability. Eque2 was founded in 2013 and is based in Maidenhead, United Kingdom.

Buy £47M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-18 United Tooling Solutions

Exeter, United Kingdom

United Tooling Solutions is a provider of industrial tools and related supplies through its nationwide branch network. It supports a diverse customer base of 25,000 organisations across a wide range of end sectors.

Buy -
SELLER

Ethos Partners

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2017
Size Small
Type Sector Agnostic
DESCRIPTION

Ethos Partners LLP is a private investment firm formed by professionals to invest their own capital in the UK companies. The Firm looks to invest between $3 to $10 million for companies valued between $5 to $30 million and EBITDA greater than $1 million. Prospective transaction situations include management buyouts, growth financings, and recapitalizations. Ethos Partners was formed in 2017 and is based in London.

DEAL STATS #
Overall 1 of 3
Sector (Renewable Energy) 1 of 1
Type (Add-on Acquisition) 1 of 2
Country (United Kingdom) 1 of 2
Year (2021) 1 of 3
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-16 Pet Mate

Walton-On-Thames, United Kingdom

Pet Mate is a designer, manufacturer and distributor of innovative pet products. Pet Mate was founded in 1986 and is based in Walton-On-Thames, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-03 Miles 33

Bracknell, United Kingdom

Miles 33 is a provider of software, support, and consultancy services to the publishing, legal, and finance sectors across the globe. Miles 33 was founded in 1976 and is based in Bracknell, United Kingdom.

Sell -
SELLER

Murray Capital

Edinburgh, United Kingdom

website

Category Family Office
Founded 2000
Size Small
Type Sector Agnostic
DESCRIPTION

Murray Capital is a family-owned investment firm focused on investing in a wide range of 'growth and value-added opportunities'. The Firm will consider businesses in a wide range of sectors, including manufacturing, technology, support services, and leisure. Murray was formed in 2000 and is based in Edinburgh, Scotland.

DEAL STATS #
Overall 3 of 6
Sector (Renewable Energy) 1 of 1
Type (Add-on Acquisition) 3 of 4
Country (United Kingdom) 3 of 5
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-01 Zumo

Edinburgh, United Kingdom

Zumo is a simple and secure way to get comfortable with buying, selling, sending, and spending cryptocurrencies. Zumo B2B crypto-as-a-service platform, ZumoKit, empowers Fintechs and banks to embed crypto solutions into their existing infrastructure. Zumo was launched in 2018 and is headquartered in Edinburgh, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-16 TalkTalk

Salford, United Kingdom

TalkTalk is a provider of landline, broadband, TV, and mobile services. TalkTalk serves over four million customers and operates Britain’s largest unbundled broadband network. TalkTalk was founded in 2002 and is based in Salford, England.

Buy £1.1B
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