Lindab moves to acquire CCL
Lindab, which specialises in circular-duct systems, has agreed to acquire CCL Veloduct, a leading UK supplier of ventilation and air-movement products. The deal will give Lindab major penetration of the UK market and enable CCL to expand its branch network and product range at a greater rate. Lindab currently has 12 branches in the UK and one factory. CCL, founded in 1986, has three factories and a national distribution network of 22 branches. Lindab plans to combines its UK ventilation business with CCL Veloduct to strengthen its offering to the ventilation industry. A new management team with representatives from both companies will be formed to assume responsibility for the new company. The acquisition is subject to Lindab obtaining approval by relevant competition authorities and to limited confirmatory due diligence. The transaction is expected to be closed at the end of October.