To go with the purchase of their company, Eurocell has issued a statement:

Eurocell has today ended months of speculation by announcing its new owner as the £2.5billion investment company, H2 Equity Partners.

The deal follows a lengthy process with several interested parties involved before H2 Equity Partners emerged as the preferred suitor over the past few weeks.

Eurocell’s previous owner, the Brussels-based Tessenderlo Group, has embarked on a series of divestments and rationalisation programmes in recent years following a change in strategic direction. Eurocell has grown every year under Tessenderlo’s tenure and remains a profitable business, with a turnover of £150million and employing around 950 people throughout the UK.

The derbyshire-based PVC-U extruder has a network of 125-plus branches nationwide and stands to gain from H2 Equity Partners’ expertise in distribution businesses. H2’s portfolio of companies includes several European manufacturing and distribution businesses, plus the Unipart car parts brand in the UK. Eurocell already has trading relationships with H2 group companies.

Patrick Bateman, CEO of Eurocell, declared “I’m delighted that we will be working with H2 Equity Partners to continue our business growth. I believe there are some excellent synergies between us in terms of our ambitions, beliefs and approach to business.”

Eurocell will remain as an autonomous business and will implement the existing five-year business plan, which includes investing in more service improvements, developing more new products for launch over the next 12 months and opening more new branches.

Patrick added “Our commitment to helping our customers grow their businesses will also not change. We’ve got some exciting innovations planned over the next 12 months which will provide Eurocell customers with significant competitive advantage.”

For more information about Eurocell products and services, call the Customer Care Team on: 0800 988 3049, email: press@eurocell.co.uk or visit www.eurocell.co.uk.