ALUMASC GROUP plc, has been cleared for its proposed £10m acquisition of ARP Group Holdings Ltd and its subsidiary Rainwater Online Holdings Limited.
The acquisition was first announced in July and the Competition and Markets Authority (CMA) began an investigation into the company’s plans in October 2023.
The organisation examined whether the acquisition would result in a substantial lessening of competition within the rainwater markets the companies operate in.
After inviting the views of any interested party, the CMA has now given unconditional clearance for the acquisition, which is now expected to complete by 31 December 2023.
Paul Hooper, Chief Executive of Alumasc, said: “This acquisition aligns with our strategy to accelerate our organic growth with earnings enhancing bolt-on acquisitions, and we are delighted that it has cleared its final regulatory hurdle.
“We are excited about the scaling up opportunities this transaction brings to both companies and look forward to welcoming the ARP team into Alumasc Group.”
Acquisition Go Ahead
Alumasc Group is a UK business headquartered in Kettering and, apart from its water management products, owns several well-known roofing brands. It is the owner of Rainclear Systems in Swindon, Alumasc Roofing in St Helens, Blackdown Greenroofs in Somerset, Timloc in Howden and Roof Pro Systems in Kettering. As well as water management, it operates in the building envelope and housebuilding sectors.
In its latest annual report to June 2022, the business’s revenue had increased 14.9% to £89.4m, with pre-tax profit up 27% to £12.7m. Apart from acquisitions, the company says it is also targeting growth through export sales in selected markets.