Alfreton-based Eurocell, the leading sustainable B2B supplier of PVC building products, is set to acquire Vista Panels from CorpAcq. The consideration for the acquisition is £7.1m, on a debt free, cash free basis, to be funded from existing bank facilities.
Vista is a manufacturer of composite and PVC-U entrance doors based in the Wirral which has a strong presence in the social housing and private RMI sectors. The company is currently the sole supplier of entrance doors to Eurocell.
Vista reported a revenue of £13.7m in the year ended 31st December, with gross assets of £3.9 million.
The company’s management team will remain in place after the acquisition.
Patrick Bateman, chief executive officer at Eurocell, said: “The acquisition will broaden the routes to market for Vista in particular to the new build sector, and provide opportunity for cross selling into the respective customer bases. We know the business well, having worked with them both as a customer and a supplier. It’s logical, therefore, that we wanted them to join forces with us. Together we have a stronger proposition in markets strategically important to both businesses.”