SDS takes over Weholite licensee for £2.7m
August 08, 2019 – Drainage products manufacturer SDS has taken over Asset International Ltd, which includes the exclusive rights to manufacture Weholite large diameter plastic pipes in the UK and Ireland.
SDS paid Hill & Smith Holdings £2.7m for its Weholite business, which in the first half of 2019 turned over £4.6m and made an underlying operating loss of £300,000.
The deal includes Asset International’s Newport-based manufacturing facility, which is licensed by Finnish company Uponor to produce Weholite pipes. The factory, which has been operating for more than 20 years, has capacity to produce 10,000 tonnes of Weholite products a year, including high density polyethylene (HDPE) large diameter pipe.
The new business will trade under the names of Weholite Limited and Weholite International Limited.
SDS managing director Patrick Cullen said: “Our acquisition of Asset International’s Weholite business marks a major milestone in our strategic vision to expand the development of innovative, efficient and cost-effective products and services that tackle the challenges of managing water from source to sea and deliver vital water security.”