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Tyman

From Wikipedia - Reading time: 3 min
Tyman plc
Company typePublic limited company
LSE: TYMN
IndustryBuilding products
Founded1993
HeadquartersLondon, United Kingdom
Key people
RevenueDecrease £657.6 million (2023)[1]
Decrease £60.2 million (2023)[1]
Decrease £38.2 million (2023)[1]
Websitewww.tymanplc.com

Tyman plc, formerly known as Lupus Capital, is a manufacturer of building products, based in London. The company was listed on the London Stock Exchange until it was acquired by the US building materials company, Quanex, in August 2024.

History

[edit]

The company was established as a small property services business known as Dean & Bowes (Homes) Limited in 1993 but, after the founder, Stephen Dean, sold his investment to an investor group known as Lupus Associates in 1999, the property services business was sold and the company became an investment vehicle known as Lupus Capital.[2] Greg Hutchings, the former CEO of Tomkins plc, took control of the company in 2004.[3] Under his management, Lupus Capital bought the Schlegel Building Products Division from Unipoly in March 2006,[4] and then acquired the security business of Laird plc in April 2007.[5] After the company started making significant losses, in the context of the financial crisis, Hutchings left the business in 2009.[6] The company acquired Fab & Fix, a doors and windows parts business based in Coventry, for £14.8 million in 2012.[7] In order to reflect a new focus as a building products business, rather than as a financial institution, the company changed its name from Lupus Capital to Tyman in February 2013.[8]

In April 2024, the US building materials company, Quanex, made an offer to acquire Tyman for £788 million.[9] The transaction was approved by the court on 1 August 2024, allowing the scheme to be completed.[10]

References

[edit]
  1. ^ a b c "Annual Results 2023" (PDF). Tyman plc. Retrieved 7 March 2024.
  2. ^ "Annual Report 1998". Environmental Property Services plc. Retrieved 26 May 2021.
  3. ^ "Business big shot: Greg Hutchings, chairman, Lupus Capital". The Times. 2 April 2009. Retrieved 26 May 2021.
  4. ^ "Schlegel bought from Unipoly". Building. 1 April 2006. Retrieved 26 May 2021.
  5. ^ "Laird Group waits for shareholder approval". DIY Week. 5 April 2007. Archived from the original on 2016-03-04. Retrieved 20 January 2015.
  6. ^ "Lupus Capital swings into the red after boardroom battle with Greg Hutchings". City AM. 25 March 2010. Retrieved 26 May 2021.
  7. ^ "US housing revival favours Lupus Capital". Investors Chronicle. 10 January 2013. Retrieved 26 May 2021.
  8. ^ "Lupus Capital to change name to Tyman". Moneyweek. 25 January 2013. Retrieved 26 May 2021.
  9. ^ "FTSE 250 company Tyman snapped up by US rival in £788m deal". The Guardian. 22 April 2024. Retrieved 23 April 2024.
  10. ^ "Scheme of arrangement becomes effective". Sharecast. 1 August 2024. Retrieved 1 August 2024.
Licensed under CC BY-SA 3.0 | Source: https://en.wikipedia.org/wiki/Tyman
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