LONDON: Laumann Group UK Limited, a subsidiary of the German building products giant Laumann Stiftung & Co. KG, announced Thursday a recommended cash acquisition of Epwin Group plc for approximately £167.3 million. The deal, which values each Epwin share at 120 pence, is intended to be implemented through a court-sanctioned scheme of arrangement.
The acquisition price represents a 31.9% premium over Epwin’s closing share price of 91.0 pence on Aug. 6, 2025, and a 42.0% premium over the company’s share price on March 17, 2025, the day before Laumann’s initial offer. The deal gives Epwin an enterprise value of approximately £269.6 million, which is 6.1 times its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the year ended Dec. 31, 2024.
According to a joint statement from both companies, the acquisition is a key component of Laumann’s strategy to expand its geographic and product footprint. The company aims to accelerate its growth plans within the UK, leveraging Epwin’s established brands, strong customer relationships, and specialized product portfolio.
“Epwin’s product portfolio and market presence have only limited overlap with Laumann’s current operations,” the statement said. “This allows for the implementation of a multiband strategy across different routes to the market.”
Laumann believes the UK is an attractive market for growth due to a core uPVC market with long-term demand from housing activity and a forthcoming program of public investment. The acquisition is expected to provide Laumann with access to Epwin’s deep relationships within the social housing and new build segments, as well as its nationwide distribution network.
The deal is expected to create opportunities for operational synergies, such as economies of scale in purchasing and the utilization of Laumann’s in-house technologies by Epwin. The combined entity is also expected to benefit from cross-selling opportunities, with Laumann potentially leveraging Epwin’s relationships to grow its aluminum profiles and façade systems business in the UK.
Both companies noted that their businesses are operationally complementary with minimal overlap, and they share aligned values and cultures. The combined company is expected to have increased scale, broader capabilities, and greater resilience across markets.
The acquisition is subject to approval by Epwin shareholders and the court. Further details on the scheme of arrangement will be provided in a scheme document to be sent to Epwin shareholders.
Andreas Hartleif and Pascal Heitmar, directors of the management board of Laumann, said: “We are delighted to announce the offer for Epwin and are excited about the potential that such a complementary business can bring to the Enlarged Group as we expand in the important UK market. We have long admired Epwin and its senior management team and look forward to welcoming them into the Laumann group’s family.”
Commenting on the acquisition, Stephen Harrison, Chairman of Epwin, said: “In the 11 years since IPO, substantial strategic progress has been made in growing and developing the Epwin Group, which has allowed it to deliver consistently strong performances whilst successfully navigating a range of market and macro-economic challenges.
It is a testament to the hard work of the management team and all of our people that Epwin is strategically positioned for future success, with well-managed operations, experienced people, a leading product portfolio and a strong balance sheet. It has been a great pleasure to have had the opportunity to contribute to Epwin’s development over the last few years.
“The Acquisition recognises the strengths of the Epwin business, allowing shareholders the opportunity to realise their investments in cash and in full at a higher level than the Epwin Shares have traded in more than eight years, whilst providing Epwin with a stable and supportive new owner, committed to the continuity of the business, strategy and approach. Following careful consideration, as a board we have unanimously concluded that the Acquisition is in the interests of our key stakeholders.”