Lupus Capital plc has agreed to acquire the Schlegel Building Products Division from Unipoly.
Schlegel Building Products makes environmental sealing systems for windows and doors, printer and copier cleaning systems, and specialised automotive components. In the fiscal year 2005, Schlegel had world wide gross sales of £69 million, up £7.2 million on 2004.
Lupus Capital plc is a specialist investment vehicle and a publicly quoted company on the Main List of the London Stock Exchange. It is run by Greg Hutchings and a team of highly experienced and successful industry professionals. For 15 years from 1983, Greg Hutchings ran Tomkins, the large UK conglomerate driving a growth in profits from £1.6 million to £500 million. With Lupus, Greg intends Schlegel being the foundation for a Building Products portfolio of businesses.
The current Schlegel Management Team, led by CEO Ian Pawson, will continue to run Schlegel Building Products and indeed has personally invested heavily in the new company.
‘This, amongst other factors, will ensure that our customers continue to receive outstanding world class products and service.' comments Philip Bond, Joint Managing Director Europe.
‘Schlegel has a very strong brand and market positions which we will seek to build on by further increasing sales to existing customers, exploiting new market segment opportunities and instigating new product development.'