Buy-out of Uponor infrastructure business

3i supports buy-out of Uponor's UK and Ireland infrastructure business.

3i, Europe's leading mid-market private equity company, has signed an agreement to support the management buy-out of the UK and Ireland Infrastructure businesses from the Uponor Corporation.

Following successful completion of the sale, the new business will be named Radius Systems Ltd and will be the UK's market leading supplier of plastic pipe systems for the underground gas, water and telecommunications utilities.

Keven Parker, 3i Buyouts Partner, commented: "We were attracted by the operational excellence, quality of the product portfolio and innovation backed by a high calibre management team.

Utilities are demanding of their suppliers and we believe that the Radius business will excel at meeting these requirements".

During 2007, the divested business enjoyed net sales of around 170 MEUR and employed 470 people, all of whom transfer to the new enterprise.

Included within the sale are the businesses of four manufacturing plants located at Hilcote (Derbyshire), Banbridge (Northern Ireland), Newton Aycliffe (County Durham) and Cork (Republic of Ireland).

Stuart Godfrey, CEO of Radius Systems, said: "We believe the sale of the infrastructure business provides a bright future for our customers and our employees.

We now have a strong, UK-headquartered business, able to concentrate all its energy and resources on serving the needs of our many customers in the utilities markets.

With 3i's involvement and experience, we will be able to capitalise on the market prospects ahead and to grow our international business too".

The change will allow the management team to maintain their business leading position in the utilities sector and to bring further investment to the UK and Ireland operations to grow in response to new opportunities.

Alan Fletcher joins the new Board as non-executive Chairman.

Back to top