Advanced Insulation Systems acquires Manuplas

Gloucester-based Advanced Insulation Systems, a high growth SME that manufactures specialist materials used to insulate sub-sea infrastructure and fire proof oil rigs, has acquired Manuplas Limited, a specialist in providing customer polymer solutions to the marine, offshore, renewable energy and leisure markets.

Formed following a management buyout in 2008, AIS has since grown its turnover from £3 million to £20 million as at the end of 2013. The £850,000 funding for the acquisition was provided by Santander Corporate & Commercial, with Baker Tilly providing corporate finance advice and due diligence on the acquisition.

AIS is continuing to experience strong growth and is listed on all top “fast-growth” indices including The Times 2013 Profit Tracker. The business was also winner of the Queens Award for Enterprise (2012) and Innovation (2013).

AIS employs 40 people at its Quedgeley West Business Park site. The acquisition of Manuplas will add a further 50 members of staff to the business, lead to major new employment opportunities, and provide the capability to use existing materials with a new manufacturing process, enhancing AIS’s reputation as a specialist in subsea buoyancy materials coating undersea pipelines.

Andrew Bennion, Managing Director, Advanced Insulation Systems, said: “We have seen exponential growth at AIS in the last six years and are now looking to really branch out and reach new marketplaces. The acquisition of Manuplas will allow us to do that. They operate in a niche market and have been extremely successful in providing customers with high quality polymer solutions. We are confident that this is the start of an excellent relationship and look forward to working together.”

Christopher Mears, Relationship Director, Santander Corporate & Commercial, said: “This acquisition represents a major move forward for AIS and accelerates its entry into the buoyancy market, which is a perfect fit for its current business. We are delighted to support this transaction and to continue to fuel the ambitions of this innovative and ambitious Gloucestershire-based business.”

Clodagh Muggeridge, Associate Director, Baker Tilly, added: “We have seen the team at AIS deliver phenomenal growth on an international platform and we are pleased to have supported them in this, the latest step achieving their ambitions.”