December 16, 2024 15:20
The Italian manufacturer of corrugated polyethylene pipes, compounds, and adhesives Industrie Polieco has taken over Picenum Plast's operations in smooth PVC and polyethylene pipe production.
The transfer occurred through the acquisition of 100% of a newly established company created by Picenum Plast, where the targeted activities had been consolidated.
The deal was financially supported by private equity firm RedFish Capital, which acquired a minority stake in Polieco earlier this year.
“Entering the PVC pipes segment and the polyethylene pipes sector for potable water and gas marks a natural evolution for Polieco as we strive to meet market needs while maintaining a focus on innovation and sustainability,” said Luigi Tonelli, President of Industrie Polieco – M.P.B. “We are confident that the integration with Picenum Plast will bring significant opportunities for both companies.”
Based in Northern Italy, Polieco – M.P.B., along with its subsidiaries Polieco France, Polieco Hellas Aebe, and Polieco Slovakia, is among the leading suppliers of corrugated polyethylene piping systems and composite manhole covers. The company operates six facilities with approximately 400 employees, generating €195 million in revenue in 2022 and an EBITDA of €28 million.
Picenum Plast, headquartered in Magliano di Tenna in Central Italy, has been producing smooth PVC and polyethylene pipes since 1974. The company closed the 2023 fiscal year with €48.2 million in revenue, €13.4 million in EBITDA, and a net financial position of over €6 million.
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