Umeco Plc, the international provider of supply chain management and advanced composite materials to the aerospace & defence industries, acquired IPM, Industria Plastica Monregalese.
Umeco will pay 12.8 million Euro on completion and 4 million in escrow for the 100% of IPM stocks.
IPM is a leading manufacturer and supplier of vacuum bagging films for the composite industry. Vacuum bagging films are used in the manufacturing process of wind turbines blades and IPM is a key strategic supplier of Umeco of this material. Umeco Composites Process Materials is the world leading group which supplies composite curing materials to the wind energy market.
The acquisition of IPM represents an important strategic step which will both secure and enhance Umeco Composite leading position in one of the highest growth markets.
Listed on the London Stock Exchange, Umeco had revenues of over £ 335 million in the last financial year.
In 2007 IPM had revenues of Euro 24 million, with EBITDA of Euro 2,4 million.
Cavour Corporate Finance advised Umeco in the due diligence and in the acquisition of IPM; in 2005 Cavour advised the UK Group in the acquisition of Provest.