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Lancashire Times
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1:08 PM 3rd March 2021
business

Rinus Roofing Supplies Acquired By Carlyle-backed Cupa Group

 
Cupa Group, a world producer of premium natural slate, announced today it acquired 100% of the share capital of Rinus Roofing Supplies through its subsidiary Burton Roofing Merchants. Financial details of the transaction were not disclosed.

The transaction consolidates Burton’s position as the largest independent specialist distributor of roofing materials in the U.K. and increases Cupa’s exposure to the attractive U.K. roofing materials market. Led by Paul Hattee, UK Managing Director, Burton will now operate 37 distribution centres across the U.K. becoming an increasingly important partner for the construction industry.

The transaction positions Burton Roofing Merchants, Cupa’s subsidiary in the UK, as one of the largest independent specialist distributors of roofing materials in the country

The combination of Burton Roofing and Rinus Roofing Supplies will generate total aggregate sales of approximately £120m. With this integration, the Cupa Group will generate over €400m sales

The transaction follows the recent acquisitions in Spain of Proinor (February 2021) and Pizarras Gallegas (December 2020), in line with the Group’s plan to increase its international client base

Rinus, a family-owned business founded in 2007, is the second largest independent distributor of roofing products in the U.K., employs 184 people and has a portfolio of more than 2,600 clients. Rinus owns 24 branches nationwide and provides full product coverage across all roofing applications. It maintains an extensive network of relationships with established U.K. suppliers, giving the company access to the latest product development in the industry.

Javier Fernández, CEO of Cupa Group, said: “We are excited to welcome Rinus to the Cupa family. We were attracted to the company given its strong track-record and solid market position in the U.K. which place it in a solid position to further expand its presence and continue its growth trajectory. We look forward to working together to deliver Cupa’s ambitious growth plans, strengthening our product range and expanding our international footprint.”

Giles Taylor, corporate finance partner at KPMG, said: “This transaction creates the largest independent roofing merchant in the UK and ideally positions the business to capitalise on the recent strong growth of the market. Well-run companies like Rinus will always be attractive to potential suitors and Cupa Group is perfectly positioned to help the business further expand its branch network and product portfolio in the UK. We’re pleased to have played our part in helping Rinus take a vital step in its journey.”

Mark Booth and Giles Taylor advised on the deal from KPMG.

The acquisition of Rinus is the third transaction in the last three months by Cupa, following the acquisitions of Pizarras Gallegas in December 2020 and Proinor in February 2021.