Nuaire acquired by Polypipe Group in £145m deal

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Piping system manufacturer Polypipe Group has agreed to acquire Nuaire from Electra Private Equity and other shareholders with completion expected to take place during August.

Nuaire makes equipment for commercial and residential applications; its products help clients reduce their energy consumption and carbon emissions.

From its base in Caerphilly, the business serves more than 5,000 customers in the UK and internationally. In the UK, the company's customers are mostly contractors and building consultants.

Electra originally invested £23m in the management buyout of Nuaire in 2007.

Mark Huxtable, chief executive of Nuaire, said: "We are delighted to be joining Polypipe. The companies share many characteristics, including a similar culture and philosophy, and together we will be better placed to tap into the excellent prospects for the sector."

Mark Huxtable, chief executive of Nuaire, said: "We are delighted to be joining Polypipe. The companies share many characteristics, including a similar culture and philosophy, and together we will be better placed to tap into the excellent prospects for the sector."

The shareholders of Nuaire were advised by KPMG Corporate Finance and Taylor Wessing and Blake Morgan's Robert Cherry and  Richard Jones provided advice to the management shareholders.