Travers Smith LLP has advised Quanex Building Products, a US-headquartered supplier of window and door components, on the acquisition of HL Plastics, the UK's fastest-growing vinyl profile extruder. The transaction is valued at approximately US $145 million.
Headquartered in Houston, Texas, with locations around the world, Quanex is an industry-leading manufacturer of engineered materials and components for building products, including window and door components. The company’s combination with HL Plastics, the UK’s leading vinyl extruder with a geographic reach across the UK and Ireland, is a strategic move to expand Quanex's international presence at an opportune time in the UK housing market. The transaction further leverages Quanex's existing expertise in the UK obtained through the acquisition of Edgetech in 2011. Additionally, Quanex shareholders will benefit from the addition of approximately US $100 million of enhanced revenue, as well as expected EPS accretion starting in 2016.
Wells Fargo advised Quanex on financial matters.