metic group plc

Metic acquires Portal Limited

Glazing Solutions Brand, Portal, Joins Metic Group PLC.

Metic Solutions today announced the completion of its third UK acquisition in a month as it continues its move to build a leading European building systems and products group.

In the latest transaction, Metic has acquired the brand name, IP, commercial contracts and key staff of the prestigious glazing solutions company, Portal Limited, for an undisclosed sum.

Metic expects the latest acquisition to add an additional GBP10 million of revenue per annum to the business, bringing combined revenues for the Group to over GBP30 million for the current year.

This latest deal follows the acquisitions of building façades company, Melayway Glass Assemblies, and steel and glass roof specialists, Space Decks Systems, on the 3rd March 2008.

Metic Group CEO, Stephen Field, commented:

"We are delighted to now bring the Portal brand and a number of commercial contracts into the Metic Group fold. The newly formed Portal team has in-depth experience in working with Contractors, Architects, Developers and Designers at the pre-engineering stages of projects varying in complexity. Portal are acknowledged experts in the design, procurement and installation of major glazing solutions for both roofs and walls. As such, they perfectly complement the glass roofing and building envelope skill set already contained within the group.

"This allows us to progress our vision of working more closely with our clients, developers and architects to deliver integrated glass structural solutions to the UK and European market."

Major projects completed by the previous Portal team included projects of the bolted glass roof at the GBP500million pound New Bull Ring Shopping Centre Birmingham and the Vaulted glass courtyard roof at the New Parliament building (Portcullis House) in Westminster London.

Metic's Portal business division will continue to operate from Bagshot, Surrey.