Polypipe announce the acquisition of ADEY Innovation
ADEY announce being acquired by Polypipe.
The move will see ADEY further support the industry through innovation and sees two leading UK brands working together towards the same purpose of water management and creating a sustainable environment.
Matthew Webber, ADEY Chief Executive Officer, said: “We are excited to be joining Polypipe and by the growth opportunities ahead. The companies share a similar culture and philosophy, focused on delivering sustainable water and climate management solutions. The combined business will allow us better to serve our customers, which will continue to be the foundation for our future success.”
ADEY will continue to be led by the existing, highly experienced management team.
As Europe’s largest manufacturer of piping systems, water and climate management systems, Polypipe complements ADEY’s existing market-leading position and capabilities in the UK, with largely common end-users (housing developers and plumbing and heating installers) and routes to market (merchants and specialist distributors).
Commenting on the acquisition, Martin Payne, Polypipe Chief Executive Officer, said: "We are delighted to announce the acquisition of ADEY. Polypipe’s strategy is to grow both organically and through carefully selected value-enhancing acquisitions, with a particular focus on sustainability and sectors within climate and water management. ADEY is a pioneer and market leader in the residential heating protection market, one of the fastest growing segments of the UK construction market, underpinned by a shift towards more energy-efficient heating systems and regulatory tailwinds. Like Polypipe, it has a strong track record of innovation and new product development, with the acquisition strengthening the proposition for our customers and accelerating Polypipe’s growth. We welcome ADEY’s management and employees and look forward to working with them over the coming years."