Wienerberger broadens its position as a full-range system provider in the UK and Ireland
- Acquisition of FloPlast and Cork Plastics in line with Wienerberger’s growth strategy complements the Group’s position in the highly attractive renovation sector
- Wienerberger accelerates its transformation into a full-range system provider by combining its extensive roof portfolio with FloPlast’s complementary roofline, rainwater and drainage solutions
- Wienerberger strengthens its commitment to investing in water management as part of its ESG strategy by integrating and combining technologies that enable smart managed stormwater solutions
Vienna – Wienerberger announces today that it has acquired 100% of the shares in FloPlast in the UK and Cork Plastics in Ireland. The companies employ 370 people in three locations and are generating revenues of approx. € 100 million. Both companies are active in the Irish and British residential renovation sector with their product portfolio that is focused on rainwater, roofline and drainage products. The acquisition will further broaden Wienerberger’s product portfolio and allows Wienerberger to become a full system provider for managed grey and storm water solutions in the residential sector. This is in line with its ambitious ESG strategy, supports the EU Green Deal 2050 and provides sustainable and care-free living for generations.
FloPlast is a key player in the fast-growing sectors for renovation, maintenance and improvement (RMI). FloPlast’s product portfolio and service offerings are highly complementary to Wienerberger’s own offerings in the British market. At the same time, the combined product portfolio will provide increased cross-selling opportunities in the new build private and public housing sector, in which Wienerberger commands a leading position in the UK.
FloPlast and Cork Plastics are excellent businesses that have a strong focus and experience in the RMI segment. They have a great product portfolio and highly experienced colleagues who will make sure to further grow our market position in the UK and Ireland. Whilst we see ample opportunity in the RMI segment, we are confident that our strong and established client relationships with the UK home builders will help us to unlock additional growth potential in the new build segment.
By acquiring FloPlast and Cork Plastics, Wienerberger has succeeded in combining the Group’s complementary portfolio of building and piping solutions, thus increasing the value through providing a unique platform for system integration and the development of all-in solutions, which in turn promotes sustainable growth at Group level through improved market penetration and synergy effects. Wienerberger is thus reacting to changing customer requirements for convenient, innovative and prefabricated design solutions. In particular, Wienerberger is in a position to provide smart inhouse water solutions and roof systems complemented by rainwater collection, drainage and soil as well as wastewater applications. These systems are well designed, sustainable, affordable, and last for generations.
This acquisition nicely demonstrates our ambition in growing our position in the market for managed solutions for storm and rainwater management. We can now provide a product portfolio that spans from water collection and transport to retention and filtration. By linking this portfolio to the design and smart capabilities of our recent acquisitions of BPD and InterAct, we can truly offer managed solutions and differentiate ourselves further from our competitors.
In addition, the right solutions to face the challenges of current megatrends on our eco-system are offered: Climate change and the resulting unforeseeable weather conditions, population growth and the associated rising demand for housing as well as clean water and advancing urbanization with its increasing stress on water management systems. The British government’s decarbonization agenda provides for amendments to building regulations, which call for solutions offered by Wienerberger as a full-range system provider for both renovation and new build.
Within the framework of its own ESG strategy, Wienerberger intends to contribute to the achievement of the net zero greenhouse gas emission targets of the European Green Deal for 2050. The company therefore undertakes to focus on water as a priority of the Wienerberger Strategy 2023 and to continue investing in sustainable and innovative solutions. FloPlast and Cork Plastics will contribute their expertise as full-range providers of rainwater and wastewater systems (“from rain to drain”). Wienerberger will thus be able to provide the construction industry with tailor-made system solutions designed to diminish the stress on water treatment facilities, use water sustainably, and help to reduce operating costs.
About FloPlast and Cork Plastics
FloPlast was established in 1991 and is headquartered in Sittingbourne, UK. FloPlast is a specialist manufacturer and supplier of plastic rainwater, drainage and plumbing systems primarily focused on the RMI sector. The company specializes in roofline products with an extensive range of rainwater systems and PVC-UE cellular foam fascia, soffit & cladding systems that provide maintenance-free solutions to domestic and commercial buildings. In addition, FloPlast has developed a range of waste, soil, underground drainage and hot & cold plumbing systems. The company sells its product portfolio to a broad range of leading merchants and retailers, with whom it has strong longstanding relationships. FloPlast operates as the main distribution channel for Cork Plastics extruded products in the UK.
Cork Plastics was established in 1969 and is headquartered in Cork, Ireland. Cork Plastics is a diversified manufacturer and supplier of plastic rainwater, drainage and plumbing products for the residential construction, agricultural and utilities sectors. Its product range is supplied throughout Ireland and the UK, and the company has also expanded its customer base into Europe, notably France and Germany.
The parties to the transaction agreed not to disclose the purchase price.