Indutrade expanding in the UK with the acquisition of CRP

2014-05-13
Indutrade acquired today all of the shares in Corrosion Resistant Products Ltd (CRP), with annual sales of £10 million.

CRP manufactures and distributes fluoropolymer lined equipment for the bulk chemical, fine and speciality chemical and pharmaceutical industries. Their products include high integrity lined piping and expansion bellows in paste extruded PTFE. These are complemented with ball valves, plug valves, check valves, sight glasses and sampling systems – all for customers requiring the highest levels of corrosion performance from their manufacturing plant.

Nigel Price, CEO and former shareholder in CRP said “CRP has grown consistently over the last 32 years to become a global supplier of its specialist product. We have known Indutrade for many years and see the purchase by them as a natural evolution of the business; one which continues to preserve and value what has made CRP successful, whilst at the same time bringing the financial security of belonging to a larger group. Indutrade’s business methods are refreshing and represent an excellent fit for a company such as ours where continuity of approach to our customers is critical. Under their banner we should go from strength to strength.”

“Indutrade has made several acquisitions in the UK recently and we are glad to further strengthen our market position with the acquisition of CRP”, comments Johnny Alvarsson, CEO of Indutrade.

Possession will be transferred today, and the company will be part of Indutrade’s Special Products business area. The acquisition is expected to have a marginally positive impact on Indutrade’s earnings per share.

Stockholm, 13 May 2014

INDUTRADE AB (publ)

For further information, please contact: Johnny Alvarsson, President and CEO: 46 70 589 17 95

About Indutrade
Indutrade markets and sells components, systems and services with a high-tech content within selected niches. Indutrade's business is distinguished by

- high-tech products for recurring needs
- growth through a structured and tried-and tested acquisition strategy
- a decentralised organisation characterised by an entrepreneurial spirit.

The Group is organised into five business areas: Engineering & Equipment, Flow Technology, Fluids & Mechanical Solutions, Industrial Components and Special Products. Indutrade's sales totalled SEK 8,831 million in 2013, generating operating income of SEK 990 million before depreciation of intangible assets. Indutrade is listed on the Nasdaq OMX Stockholm.

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