News Room

13 July 2006

Aberdeen Asset Managers Growth Capital announces MBO of Homelux Nenplas

Aberdeen Asset Managers Growth Capital (“AAMGC”) today announces the multi-million pound management buyout of the UK’s leading tile accessory and plastic extrusion manufacturer, Homelux Nenplas.

Based in Ashbourne, Homelux Nenplas is a leading supplier of extruded and injection moulded plastic products for the Tiling, DIY, Furniture, Caravan and Shopfitting markets. The business was sold by US-based multinational Newell Rubbermaid.

AAMGC provided equity funding in support of the management team which is lead by Alan Emery, who has had a long career in the plastics and home improvement industry and was Managing Director of Homelux Nenplas for 15 years. He returns to the company as Chief Executive. Yorkshire Bank also supported the transaction.

Birmingham based Andrew Ferguson and John Connolly led the investment on behalf of Aberdeen Asset Managers Growth Capital, with Andrew Ferguson joining the Board of Homelux Nenplas.

Alan Emery, Chief Executive of Homelux Nenplas, said “Homelux Nenplas has suffered in recent years from under investment in product innovation and marketing. We intend to revitalise the Homelux and Nenplas brands through increased investment in the rapid development of new products to create a dynamic, market leading, product range which addresses our consumer and customer needs”.

Andrew Ferguson, Senior Investment Manager for AAMGC, said: “With our investment in Homelux Nenplas we have backed a management team that has considerable experience and skill at creating shareholder value, and who are leading a company with a defined strategy for turnover and profit growth”.

A number of Midlands based advisers were also involved in the transaction; Martineau Johnson, who provided legal services to Newco and the management team; KPMG (Birmingham), who provided financial due diligence and advice on operational and separation issues; DLA Piper (Birmingham), legal advisors to AAMGC; HBJ Gateley Wareing (Birmingham), legal advisors to Yorkshire Bank; Bentley Jennison (Birmingham), tax advisor to Newco; Wragge & Co (Birmingham), tax advisor to AAMGC; Sales Blueprint, sales due diligence; MBD, commercial due diligence; Jay Hale Associates, management due diligence; Armstrong Craven, management referencing.

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