Genuit Group plc, formerly Polypipe Group, is a manufacturer of plastic piping systems, for use in the residential, commercial, civils and infrastructure sectors. The piping systems are used for a variety of applications including drainage, plumbing, water supply, water management, cable management, heating and ventilation. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
The company was established as Polypipe by Kevin McDonald (a former plumber) and Geoff Harrison in 1980.[5] In October 1995 the company bought Sud Ouest Plastiques (of France) for £2.1m,[6] in January 1997 it bought TDI for £3.1m[7] and in November 1997 it bought Gabo Systemtechnik for £6m.[8] Then in July 1998 the company bought Domus Ducting (renamed Polypipe Ventilation) for £4.7m[9] and in January 1999 it bought Pagette Sanitar Produktions (of Germany) for £9m.[10]
In March 1999 the company was bought by IMI for £337m; Kevin MacDonald made £56m from this deal and Geoffrey Harrison made £12.5m.[5] IMI sold Polypipe to Castle Harlan (of the United States), a private equity company, for £293m in September 2005.[11] In May 2007 it bought Terrain, a PVC piping business in Aylesford in Kent.[12] Then in August 2007, a management buyout took control of the company from the private equity company, in a deal funded by Bank of Scotland Integrated Finance.[5] In February 2010 the company bought Silavent, a ventilation manufacturer.[13]
In April 2014, Polypipe was the subject of an initial public offering on the London Stock Exchange.[14] Then in November 2014, Polypipe acquired the Ferrob Ventilation business.[15] In February 2015, Polypipe acquired Surestop, a business producing an alternative product to the brass stopcock,[16] and in August 2015 Polypipe acquired Nuaire, a ventilation systems manufacturer.[17]
It was announced in May 2017 that Martin Payne will succeed David Hall as the CEO following his retirement.[18][19]
The company changed its name from Polypipe to Genuit Group in March 2021.[20]
Operations
The head office is in Leeds,UK. Its businesses are located as follows:[21]
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£561.3 million (2024) [3] 