VEKA seals Bowater deal
Bowater Building Products, the Sutton Coldfield-based uPVC window manufacturer, has been sold to rival VEKA.
German-owned VEKA said the deal would further strengthen its market position and share within the UK industry during its 25th anniversary year of manufacturing in the UK.
Bowater Building Products was bought for an undisclosed sum.
Dave Jones, managing director of VEKA's Burnley-based UK site, said: "We have undertaken a thorough review of potential acquisitions and have selected Bowater Building Products due to its obvious synergies with the VEKA brand in terms of product quality and positioning.
"During the review we also found that the ethos of the two companies is very similar as is the way they are run which should make way for synergies as we align the two brands."
VEKA said it would now conduct a "comprehensive strategic review" over the coming months into how best to integrate the two businesses.
Jones added: "The acquisition of Bowater Building Products and the highly esteemed WHS Halo brand demonstrates our long term commitment to manufacturing and continuing to invest in the UK."
Bowater Building Products reported a turnover of £54m in the year to 31 December 2009 – its latest accounts available. Profit before tax for the year was £955,000 and the business said it employs almost 450 people.
Brabners Chaffe Street advised on the acquisition.
