Visionscape Group, an environmental utility company, today announced that it had reached an agreement to acquire UK based thermoplastics engineering company, Petlon Polymers.
The transaction is a strategic move for Visionscape and will enhance its global ambitions as it forays into the European markets. The acquisition will add to Visionscape Group’s service offerings across the waste management value chain.
Petlon Polymers is a compounder and polymer recovery company specialising in engineering thermoplastics with an established global presence in demanding markets. With over 40 years in the business, Petlon has a strong reputation for consistency and growth. The existing management and staff will keep their jobs and remain intact.
Commenting on the acquisition, Harry Ackerman, Executive Director at Visionscape said “The acquisition of the Petlon business is a complementary addition to Visionscape’s global waste management solution as we continuously seek innovative and environmentally effective solutions for our customers. We are delighted to have completed the transaction and look forward to working with the existing management team and the company’s key stakeholders to grow the business.”
Geoffrey Bouchier, Joint Administrator and Managing Director at Duff & Phelps, the financial advisory firm tasked with the successful transaction said, “We are pleased to announce the successful sale of the Petlon Polymers business to Visionscape, which has facilitated business continuity for its customer base and supply chain, and has preserved the jobs of its entire workforce.”
The sale transaction completed on 11 September 2017.