PU products manufacturer Plixxent (Hamburg / Germany; www.plixxent.com
) has established a production facility in the UK after it bought MRi Polytech (Macclesfield / UK; www.mri-polytech.com
) for an undisclosed sum.
Plixxent, which is owned by private equity firm HIG Capital (London / UK; www.higcapital.com
) and has production plants in Denmark, Germany, the Netherlands and Spain, said the deal would help its presence in the UK and assist the British firm gain access to European markets.
MRi Polytech, founded 21 years ago by current owner Vincent Snell, manufactures PU systems with a focus on outdoor systems and special CASE applications (coatings, adhesives, sealants, elastomers). Despite the Covid-19 pandemic in 2020, the firm racked up sales of GBP 14.2m (EUR 16.7m), an increase of 17%, while operating profit rose 8% to GBP 777,000 (EUR 913,000).
Plixxent CEO Jörg Schottek said, MRis activities will continue to operate under their established trade names, and added that the acquisition would significantly strengthen the companys position as the leading independent supplier of polyurethane-based solutions in Europe.