Epwin shares surge on Laumann takeover deal
Investing.com -- Shares in Epwin Group PLC (LON:EPWN) jumped 29.8% after the company’s board agreed to a £167.3 million cash takeover by the UK arm of German construction firm Laumann Group.
The deal values the building products specialist at 120 pence per share, representing a premium to recent trading levels and pricing the company at 6.1 times its 2024 adjusted earnings.
Epwin’s directors have unanimously backed the acquisition. Laumann, a European construction group, aims to expand its presence in the UK market through this purchase.
The German firm pointed to Epwin’s strong brands and minimal overlap with its existing operations, viewing the acquisition as a strategic move into what it considers an attractive and growing market.
As a manufacturer of energy-efficient, low-maintenance building products, Epwin serves the repair, maintenance and improvement sector, as well as new build and social housing markets.
The company stated it will gain advantages from Laumann’s larger scale and technical infrastructure.
Epwin also highlighted that the offer delivers complete liquidity for shareholders at the highest price in over eight years, particularly valuable given the challenging environment for small-cap shares.
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