Acquisition

Alumasc Group PLC 01 April 2008 1 April 2008 Alumasc acquires a leading UK supplier of green roofs The Alumasc Group plc (ALU.L), the premium building and engineering products group, announces that it has further expanded its presence in the sustainable building product arena through the acquisition of Blackdown Horticultural Consultants Limited ("Blackdown"), a leading UK supplier of green roofs, for cash consideration of £2 million. Green roofs improve a building's thermal performance, increase rainwater retention thereby reducing storm water run-off, and reduce the life-cycle costs of a roof by protecting it from climatic changes, UV light and mechanical damage. In addition, they provide wider benefits, such as helping to reduce the heat island effect within cities, increasing the absorption of CO2, increasing biodiversity and improving the built environment more generally. The Mayor of London announced on 27 February 2008 that he expects planning applications for all major developments in London to incorporate living roofs where feasible. Blackdown specialises in extensive green roofs, which are lightweight, require limited maintenance and no artificial irrigation. This type of green roof represents around two-thirds of the UK green roof market. The acquisition will complement Alumasc's leading position in the intensive green roof market through the ZinCo brand. Intensive green roof systems tend to be more complex than extensive green roofs, including a need for irrigation, and usually provide an amenity for building occupiers. The combination of Blackdown with Alumasc's existing business will therefore provide greatly increased access to the rapidly expanding green roof market, whilst boosting demand for Alumasc's market leading waterproofing brands, Hydrotech and Derbigum, which are frequently specified as part of green roof systems. This will enable Alumasc to supply clients with a complete roofing package from a single source. Alumasc will support Blackdown to realise its growth potential through the provision of group resources in the areas of marketing and market development, technical support and administration. Blackdown's existing management team, including its two founder directors, John Williams and Alun Tarr, will continue to manage the business under the "Blackdown" and "Greenroof" brands. They bring with them unique expertise in the plant technology and science associated with green roof specifications, and a proven track record in the supply and installation of high quality green roof systems. Further information on Blackdown can be found at www.greenroof.co.uk. In the year to September 2007, Blackdown's audited revenues more than doubled to £1.5 million, with operating profits reaching almost £0.4 million. Net assets at 30 September 2007 were £0.3 million. Of the total acquisition consideration of £2 million, £0.25 million will be deferred until the end of Blackdown's current financial year to September 2008. Alumasc is funding the acquisition through existing committed debt facilities and expects the acquisition to be earnings enhancing within the first year of ownership. Paul Hooper, Chief Executive of The Alumasc Group, said: "Blackdown is an excellent strategic fit for Alumasc, and increases the group's presence in one of the fastest growing markets in the sustainable building product arena. Blackdown will complement Alumasc's existing green roof business, and we are delighted to welcome into the group all of the Blackdown team, who bring with them unrivalled expertise in this exciting market niche." Notes for Editors: Alumasc's sustainable building products facilitate energy and water management. The principal energy management products are Levolux solar shading systems (acquired in May 2007), MR Facades external wall insulation systems, and ZinCo and Blackdown green roofs. The principal water management products are Gatic Slotdrain, Harmer and SML drains, Alumasc aluminium and Apex cast iron rainwater products, and Hydrotech and Derbigum waterproofing products. Hydrotech and Derbigum are frequently specified as part of green roof systems. Photographs: Photographs of Blackdown extensive green roofs are available from Rose Oddy of Bankside Consultants, by email to rose.oddy@bankside.com Enquiries: The Alumasc Group plc 01536 383844 Paul Hooper (Chief Executive) info@alumasc.co.uk Andrew Magson (Finance Director) Bankside Consultants Limited Charles Ponsonby 020 7367 8851 charles.ponsonby@bankside.com This information is provided by RNS The company news service from the London Stock Exchange
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