TPi July 2008

news business & market

Support for management buy-out 3i, a European 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 a leading UK 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 € 170m 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, England), Banbridge (Northern Ireland), Newton Aycliffe (County Durham, England) and Cork (Republic of Ireland).

The manufacturing facility at Hilcote, Derbyshire, is one of four plants included in the deal ▲ ▲

The change will allow the manage- ment team to maintain the company’s 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.

Stuart Godfrey, CEO of Radius Systems, said, “ We believe the sale of the infra- structure 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 utilitiesmarkets. With 3i’s involvement and experience, we will be able to capitalise on the market prospects ahead and to grow our international business too. ”

Uponor – UK uponor.sales@uponor.co.uk www.uponor.co.uk

Mill completes ISO/TS 16949:2002 certification audit

Plymouth Tube Company is a global supplier of speciality carbon, alloy, nickel alloy, and stainless steel tubing for mechanical, pressure, boiler, and hydraulic applications. Steel, nickel and titanium extruded and cold drawn shapes are produced by Plymouth Engineered Shapes. Plymouth Tube Company’s Eupora Mill has completed the ISO/TS 16949:2002 surveillance audits 3 and 4. The audits consisted of two auditors for 1.5 days of auditing on all shifts. The Eupora Mill was established in 1985 to supply the hydraulic tube market, and also serves the DOM tube market. Products offered include: Hydrabrite (Hydraulic J525), DOM A 513 type 5, and processes such as short cut, end finishing and fabrication. The aim of ISO/TS16949 is the development of a quality management system that provides for continual improvement, emphasising defect prevention and the reduction of variation and waste in the supply chain. TS16949 applies to the design/development, production and, when relevant, installation and servicing of automotive-related products, based on ISO 9001:2000 which is specific to automotive production and relevant service part organisations. With ten manufacturing plants across the US, Plymouth Tube Co is positioned for continued global growth supplying the aerospace, transportation, energy, and industrial markets. Over the last five years, the company’s sales revenue has more than doubled, due to market share growth and strategic acquisitions.

Plymouth Tube Company – USA www.plymouth.com

10

Tube Products International July 2008

www.read-tpi.com