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A corporate finance team from Grant Thornton UK has recently advised on two key deals in Norfolk within a week, as the firm “continues to lead the way” in the East Anglia region.
In the first transaction, listed Midland building materials company, Epwin plc, acquired Norwich-based plastics recycling specialist Poly-Pure for £15m.
Founded four years ago, Poly-Pure is said to be a fast-growing materials re-processor, recycling post-consumer and post-industrial PVC building materials, notably UPVC window frames.
According to Epwin plc, Poly-Pure was seen as a “strong strategic fit” as the company’s financial year ended 31 July 2022 is expected to report revenues of £10m and adjusted EBITDA of £2.5m.
In the second transaction, the firm’s corporate finance director managed the sale of Computer Service Centre Ltd by its founders Christopher Cooper and Jeremy Clarke to private-equity-backed managed IT services provider, Acora, for an undisclosed sum.
Founded 25 years ago, the Norwich-based company has 60 members of staff and is said to be a leading provider of IT managed services to more than 100 SMEs in the South and East of the UK.
Stuart Davies, director of corporate finance at Grant Thornton, said: “We are delighted to have delivered excellent outcomes for the entrepreneurs behind Poly-Pure and Computer Service Centre.
“In both cases there are compelling reasons for the sales and both companies will now be able to accelerate their already impressive growth by being part of larger businesses.”
He added: “Despite a more challenging economic environment, the M&A market remains strong in Norfolk and East Anglia alike, with continuing trade and private equity appetite for good quality businesses, which is reflected in both these excellent deals.”
