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One51 buys UK's Straight for E13m

Friday, May 02 17:29:51

Irish investment group, One51, today said it ahs agreed to buy UK-based plastics group, Straight, for Stg10.7m (E13m).

Commenting on the acquisition, Alan Walsh, One51's CEO said that the purchase fits in well with the group's existing plastics division.

"We aim to support Straight in its growth plans by providing the security of a strong balance sheet and continuing to innovate the business model through investment in technology and machinery. The combination of One51 and Straight is an exciting opportunity as it adds considerable breadth, depth and scale to One51's existing offering, creating a leading specialist injection moulding group in the UK which can then grow in to other European markets," he said.