Lupus Capital to Acquire Schlegel Building Products
On March 3, Greg Hutchings, chairperson of Lupus Capital, announced that the company has agreed to acquire Schlegel Building Products from Unipoly.
Schlegel Building Products, manufacturer of sealing systems for doors and windows, reported worldwide sales of $125 million in 2005. Lupus Capital is a specialist investment vehicle and a publicly traded company on the London Stock Exchange.
"We are very excited about the progress we are making," said Hutchings. "The acquisition of Schlegel, an international building products manufacturer, is yet another step in creating a successful growing international business in line with our strategy of developing Lupus Capital PLC."
The Schlegel management team under chief executive officer Ian Pawson will continue to run Schlegel Building Products.
"The existing business has a strong brand and good market position that we will seek to build on," said Pawson. "We will look to increase sales to existing customers, exploit new market segment opportunities and invest in new product opportunities. Schlegel is the foundation of a substantial new building products group."
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