UK plastic supplier RPC Group adds Bosnian firm Helioplast in $13M deal
RPC Group PLC has acquired Helioplast d.o.o., an injection molding firm based in Bosnia and Herzegovina. RPC is Europe's top 2 maker of rigid plastic packaging, according to Plastics News.
RPC bought Helioplast from its management for around £8.4 million ($13 million). The acquisition funds were derived from existing debt facilities, the report detailed.
Helioplast currently employs around 50 workers. The firm has annual sales of approximately £7 million. In 2012, the company generated EBITDA of around £1.4 million, the report stated.
Beccles, England-based RPC had sales activities in the area but has no direct manufacturing, according to a spokesman. The company believed that Helioplast would be a good addition for the Balkans expansion of its Superfos business. Additionally, the acquisition would provide a strongly managed manufacturing facility for the group, Plastics News explained.
RPC chiev executive Pim Vervaat said: "Helioplast occupies a leading position in its home markets and is a strong complementary fit with the Superfos cluster."