Shares in Epwin Group PLC (LON: EPWN) surged 31% after the company’s board unanimously recommended a £167.3 million cash takeover by Laumann UK, the British arm of Germany’s Laumann Group.
The offer, priced at 120 pence per share, marks a substantial premium to Epwin’s recent trading levels and values the building products firm at 6.1 times its projected 2024 adjusted earnings.
Laumann Group, seeking to strengthen its presence in the UK market, praised Epwin’s well-established brands and the minimal overlap with its own operations. The acquisition is viewed as a strategic move into a growing and attractive sector.
Epwin—known for its energy-efficient, low-maintenance building products catering to the RMI (repair, maintenance and improvement), new build, and social housing markets—said the deal will allow it to benefit from Laumann’s greater scale and technical expertise.
The board also highlighted that the offer delivers full liquidity to shareholders at the highest share price in over eight years, amid a tough environment for small-cap stocks.
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