Group Radius Systems, a leading UK supplier of plastic pipes and fittings for gas and water supply in the utility sector, is pleased to announce the acquisition of AEON Group Holdings Ltd, which is one of the leading manufacturers and suppliers of valves for gas distribution, oil and gas systems, Water and fire. Production and representation of AEON Group are located in Dubai, Poland and the UK.
Andy Taylor , CEO of Radius Systems, said: "With the introduction of our company in February of this year, under the control of the Russian POLYPLASTIC AEON Group has become the second acquisition Radius Systems after the company Subterra, acquired in June. Our new shareholders without hesitation supported the deal, which corresponds to a coherent strategy complement our core business (production of pipes and fittings) associated products, services and technologies, and makes us more attractive to customers. We are pleased to include AEON brand and technology to its portfolio of offerings and look forward to replenishment of skilled professionals in the family Radius - POLYPLASTIC " .
Derek Watson , CEO of Group AEON, said: "I am delighted that AEON is part of a much larger groups with a vast territory and rich assortment of sales. As a result, the brand AEON will not only get efficient access to larger markets, but also significantly increase its appeal to existing customers. This is a great opportunity for the team AEON make an important contribution to the future success and diversification of the Group " .
Consultant to the buyer in the transaction support of the Moscow office of CMS, with the support of offices in the UK, Poland and the United Arab Emirates. CMS team led by Partner David Cranfield involving Gregor Kennedy.
David Cranfield of the Moscow office of CMS: "This is the second deal POLYPLASTIC Group, which acted as a consultant CMS. We are pleased to see that the Radius Group, POLYPLASTIC acquired in February 2013, she turns into an international company that would complete strategic transactions absorption and CMS are happy to support that process " .
Source: the POLYPLASTIC Group official website