LONDON (ShareCast) - (Sharecast News) - Shares in Epwin Group surged on Thursday as the window and door manufacturer agreed to be taken over by Laumann Group in a £167.3m deal.
Epwin is being acquired by Laumann Group UK, a wholly-owned subsidiary of German construction firm Laumann.

Under the terms of the acquisition, Epwin shareholders will receive 120p per share in cash. This is a premium of about 32% to the closing share price on Wednesday.

Laumann said the deal aligns closely with its strategic priorities and will help to accelerate the implementation of its growth plans within the UK, as well as unlocking additional opportunities for operational synergies "through sharing know how and technical infrastructure, scale benefits, and complementary offerings across key end-markets".

Epwin chairman Stephen Harrison said: "In the 11 years since IPO, substantial strategic progress has been made in growing and developing the Epwin Group, which has allowed it to deliver consistently strong performances whilst successfully navigating a range of market and macro-economic challenges.

"The acquisition recognises the strengths of the Epwin business, allowing shareholders the opportunity to realise their investments in cash and in full at a higher level than the Epwin shares have traded in more than eight years, whilst providing Epwin with a stable and supportive new owner, committed to the continuity of the business, strategy and approach.

"Following careful consideration, as a board we have unanimously concluded that the acquisition is in the interests of our key stakeholders."

At 1000 BST, the shares were up 30% at 118p.

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