Polypipe buys Manthorpe Building Products for £52m

The deal was expected to be EPS accretive and deliver returns in excess of the cost of capital in the first full financial year of ownership, Polypipe said.

Polypipe chief executive Martin Payne said the deal would expand its product platform and market reach in the UK and Irish residential and repair, maintenance and improvement markets which were being "positively impacted by legislative change".

"Manthorpe will be integrated into Polypipe's residential systems segment, where we will leverage the capabilities and synergies of the combined group to drive growth," he said.