On Friday 30^th January, Colin Evans, MD of Omnico Plastics Ltd, the leading plastics specialist, successfully led an MBO of the company following the decision by the Haymills plc board to separate its Contracting and Building Materials businesses.  The MBO, which also included Specialised Fixings Ltd, has been backed by the Royal Bank of Scotland and Northern Venture Managers Ltd.  

Commenting on the announcement, Colin Evans, Managing Director of Omnico said:

“This is very good news for Omnico and I would like to thank our customers, suppliers and staff for their continued support.  Our future as a business is very positive following strong sales, increased turnover last year and an expanding network of outlets nationally.  Independence from the Plc will give us the flexibility to secure maximum value from the business and optimise the expansion opportunities available to us.”Cont…/

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John Woodhouse, Chairman of Haymills plc, added:

“The plc decision to separate the contractors and building materials businesses is a very sensible one in these circumstances and I am sure that, as a very successful business in its own right, Omnico will go from strength to strength as an independent entity.”

ENDS

Notes to Editors:

1.         For more information contact Amanda Politzer, hbl media

(Amanda@hblmedia.com)

Tel        :           Amanda Politzer                        01223 211 320, 07786 271 789

2.                  Omnico is the South’s leading specialist supplier of plastics to the building trade, with a turnover in 2003 of £21 million. The growing branch network now stands at 22 branches supplying all types of building plastics, from Underground Drainage to UPVC Roofline systems and conservatory roofs, to a wide spectrum of customers from local contractors to national house-builders. Omnico has been awarded Investors in People accreditation and is a member of the Builders Merchants Federation.  Omnico won The Training Initiative of the Year Award at the Builders Merchants Awards for Excellence in 2002 and 2003 consecutively.

Visit www.omnico.co.uk.

Omnico has branches in:

4.  Omnico management was advised by Ariadne Capital Ltd.  Ariadne Capital is London-based investment firm which advises and invests in leading high-growth businesses.   www.ariadnecapital.com .   Please direct enquiries to Julie Meyer on +44 207 653 0209 or marketing@ariadnecapital.com.
 

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