IPS is one of the UK's leading suppliers of plastic piping systems and valves, with a broad product range of installation tools and welding equipment. IPS combines technical problem-solving with traditional distribution. The company's customers are found in segments ranging from water treatment, swimming pools and fire safety, to the chemical and construction industries.
"This acquisition is a milestone for us, since it entails Indutrade's establishment in a new country that makes up the largest market for our type of business in Europe," says Johnny Alvarsson, President and CEO of Indutrade. "We see this step as a springboard for our continued expansion in Europe."
Organisationally IPS will be included in the Flow Technology business area, which had annual sales of SEK 1,073 million in 2006.
IPS is Indutrade’s eleventh acquisition this year and is expected to have a marginally positive impact on Indutrade’s earnings per share. The companies acquired to date during the year have combined annual sales of approximately SEK 565 million.
Stockholm, 22 October 2007
INDUTRADE AB (publ)