UK: Advanced Insulation (AI) has acquired Manuplas, which specialises in the manufacture and supply of floatation and protection products for the global marine and offshore energy markets.
"The acquisition of Manuplas enhances AI's market diversification by providing further penetration into our existing offshore markets while simultaneously increasing our presence and breadth of product offerings in the marine sector," said AI's managing director Andrew Bennion. AI's turnover has increased from Euro3.68m in 2008 to Euro24.5m in 2013.
Manuplas has over 50 employees at its two manufacturing plants in Plymouth, Devon, the second of which was acquired in early 2013 to accommodate the increase in production of offshore products and to further improve general productivity. As a result of the acquisition, Manuplas has dissolved its commercial reseller and distribution agreements with Fendercare Marine.
