CRP of Littleborough acquired by Indutrade of Sweden

Corrosion Resistant Products (CRP), a specialist manufacturer based in Littleborough has been bought by Swedish industrial corporation Indutrade. CRP makes anti-corrosion fluoropolymer-lined equipment for the chemical and pharmaceutical industries.

Indutrade is a much larger business with 180 subsidiaries in 26 countries making industrial components and engineering equipment. It is listed on the Stockholm stock market and has sales of £800m.

The value of the deal was not disclosed.

Nigel Price, CEO and former shareholder in CRP said: “CRP has grown consistently over the last 32 years to become a global supplier of its specialist product.

"We have known Indutrade for many years and see the purchase by them as a natural evolution of the business; one which continues to preserve and value what has made CRP successful, whilst at the same time bringing the financial security of belonging to a larger group.

"Indutrade’s business methods are refreshing and represent an excellent fit for a company such as ours where continuity of approach to our customers is critical. Under their banner we should go from strength to strength.”

Johnny Alvarsson, CEO of Indutrade, said: “Indutrade has made several acquisitions in the UK recently and we are glad to further strengthen our market position with the acquisition of CRP.”

Possession was transferred on 13 May and CRP will be part of Indutrade’s Special Products business area. The acquisition is expected to have a marginally positive impact on Indutrade’s earnings per share.