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Eversheds advises on a piping hot deal

  • United Kingdom

    27-02-2013

    Global law firm Eversheds has advised the shareholders of Radius Systems Limited on the disposal of Radius Systems to Polyplastic Group, the Russian and CIS market leader in plastic processing, for an undisclosed sum.

    Radius Systems’ business involves the development and manufacture of plastic pipes and fittings for the gas, water and wastewater sectors, as well as the production of solutions for the telecoms market. Radius generated net sales of over €100 million in 2012 and employs 370 people at its facilities in Hilcote (Derbyshire), Banbridge and Lurgan (both in Northern Ireland).

    Polyplastic Group was founded in 1991 and is today the leading European supplier of thermoplastic compounds and polyethylene piping solutions for infrastructure markets, with production plants in Russia, Ukraine, Belarus and Kazakhstan.

    The Eversheds’ team was led by Principal Associate, Alistair Cree, with support from corporate Associate Victoria Ross, banking Senior Associate James Oxley and tax Senior Associate Catherine Concannon.

    Alistair commented:

    “We are pleased to have helped the shareholders of Radius complete this significant disposal. The future partnership between Polyplastic and Radius represents a strong alignment between two premium businesses and should provide real growth opportunities for both parties.”

    Andy Taylor, CEO of Radius Systems, commented:

    “The completion of this acquisition is exceptionally good news for the Radius Group and should be welcome reassurance for both our loyal employees and those suppliers who have supported the business through a tough two year period. Alistair and his team provided excellent advice, assistance and service throughout culminating in the successful completion of the deal.”

    Disclaimer

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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