Uponor and the owners of Capricorn S. A. have signed a share purchase agreement of all outstanding shares in Capricorn S. A., a Polish manufacturer of components for heating and sanitary installations. The parties have agreed not to disclose the purchase price. The closing of the acquisition is expected to take place during the coming months.
In 2020, Capricorn’s net sales were close to EUR 25 million and it employs approximately 400 people in Świebodzice, in the southwest Poland. Following the closing of the transaction, Capricorn will be integrated into Uponor’s Building Solutions – Europe division.
“For the past couple of years, Uponor has been concentrating on strengthening its core businesses and improving profitability in Europe. We have been actively screening for suitable acquisition targets and this transaction is an important step forward on Uponor’s profitable growth journey,” comments Michael Rauterkus, President and CEO, Uponor Corporation.