UK based Radius Systems Ltd, a subsidiary of Polyplastic Group, acquired 100% of the share capital of the Latvian piping solutions company SIA Evopipes.
Established in 2008, SIA Evopipes is a leading manufacturer of polymer piping systems in the Baltics that operates from a modern custom built facility in Latvia and exports to 14 countries in Scandinavia, Central and Eastern Europe and the Baltic states. In 2013 the company reached a turnover of 21 million euros and a profit of three million euros.
Radius Systems Ltd has been operating in the polymer piping market since 1972 and is the current market leader in the UK. Since 2013 Radius Systems Ltd is part of the Polyplastic Group operating more than 20 factories in Europe and the CIS. The Group's annual total turnover reaches a billion euros.
COBALT Latvia office acted as legal advisor to Radius Systems Ltd carrying out a legal due diligence of SIA Evopipes, as well as provided legal assistance in the drafting and negotiation of transaction documents.