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Bank of Scotland Corporate funds £450m Polypipe refinancing15/08/2007. Source: AltAssets. 
 Bank of Scotland Corporate, part of UK banking group HBOS, has provided an integrated debt and equity package to support the incumbent management team in a secondary buy-out of Polypipe, a manufacturer of plastic piping and sanitary systems for the UK and European construction markets, from US private equity house Castle Harlan.
Management will hold the majority of the equity in the new vehicle, with Bank of Scotland taking a 'substantial' minority stake.
Polypipe is headquartered in South Yorkshire and employs over 2,800 people in 22 operations across five European countries and China.
Castle Harlan invested in the original MBO of Polypipe in September 2005, when they backed incoming CEO Hall to acquire the business from IMI.
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