Uponor Corporation Investor news 23 August 2021 11:00 EET
Uponor to acquire Capricorn S. A., a Polish manufacturer of components for heating and sanitary installations
Uponor and the owners of Capricorn S. A. have signed a share purchase agreement of all outstanding shares in Capricorn S. A., a Polish manufacturer of components for heating and sanitary installations. The parties have agreed not to disclose the purchase price. The closing of the acquisition is expected to take place during the coming months.
In 2020, Capricorn’s net sales were close to EUR 25 million and it employs approximately 400 people in Świebodzice, in the South West Poland. Following the closing of the transaction, Capricorn will be integrated into Uponor’s Building Solutions – Europe division.
“For the past couple of years, Uponor has been concentrating on strengthening its core businesses and improving profitability in Europe. We have been actively screening for suitable acquisition targets and this transaction is an important step forward on Uponor’s profitable growth journey,” comments Michael Rauterkus, President and CEO, Uponor Corporation.
“We have been building our growth strategy and with this acquisition we have found an excellent opportunity to enhance our presence in Poland and other Eastern European countries. Capricorn’s portfolio complements well our radiant heating and cooling product range, and their location offers a strategic extension to our manufacturing footprint in Eastern Europe,” says Karsten Hoppe, President, Building Solutions – Europe.
For more information:
Minna Yrjönmäki, CFO, Uponor Corporation, tel. +358 20 129 2036
Karsten Hoppe, President, Building Solutions – Europe, tel. +49 697 953 86024
Uponor in brief
Uponor is rethinking water for future generations. Our offering, including safe drinking water delivery, energy-efficient radiant heating and cooling and reliable infrastructure, enables a more sustainable living environment. We help our customers in residential and commercial construction, municipalities and utilities, as well as different industries to work faster and smarter. Uponor employs about 3,700 professionals in 26 countries in Europe and North America. In 2020, Uponor's net sales totalled approximately €1.1 billion. Uponor Corporation is based in Finland and listed on Nasdaq Helsinki. www.uponorgroup.com