London Stock Exchange today welcomed Epwin Group
London Stock Exchange today welcomed Epwin Group, vertically integrated manufacturer of extrusions, mouldings and fabricated low maintenance building products, supplying the RMI, new build property and social housing sectors, to a Market Open ceremony marking its admission to trading on the AIM.
The Company’s IPO raised £94m through a placing of new shares and vendor placing, valuing the Company at £135m. The funds raised will be used to repay a portion of the Group’s debts and reduce its gearing and annual interest burden accordingly.
Founded in 1976 by Jim Rawson, the Epwin Business has grown and developed both organically and by acquisition over the last 38 years. From its origins as one of the first PVC-U window fabrication businesses in the UK, the Epwin Business has changed significantly to become a stable and substantial player, selling a much broader range of low maintenance building products.
Commenting on today’s admission Jon Bednall, Chief Executive Officer of Epwin Group, said:
"We are delighted with the strong support shown by our new investors and look forward to working with them to build on Epwin’s strengths and grow the business. Epwin was one of the first entrants into the PVC-U window market in the mid 1970s. Since then the Group has broadened its product offering significantly and grown market share under Jim Rawson’s Chairmanship. Today we believe there is potential for further organic growth in all business areas as well as opportunities to drive further sector consolidation and operational efficiencies.”
Zeus Capital is acting as financial adviser, NOMAD and broker to the Company.