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Uponor UK in buy-out from Finnish parent
A manufacturer of pipe systems for the gas, water and telecoms industries has been bought out from Finnish parent company Uponor Oy for £100 million. Uponor UK, which has been renamed Radius Systems, now plans expansion into East Asia, the Middle East and the US.
The deal was backed by listed private equity firm 3i, whose international contacts will assist with the business’s expansion plans, according to Radius CEO Stuart Godfrey.
3i has introduced Alan Fletcher to the board as non-executive chairman. Fletcher has worked at smoke-free tobacco products supplier Swedish Match (part of the Wilkinson Sword group) and Extec, a manufacturer of crushing equipment and a previous 3i portfolio company.
The private equity firm expects Radius’ expansion to be driven by long-term demand growth in the gas, water and telecoms industries, together with regulation and the requirement to replace ageing pipe infrastructure.
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