海角视频 construction materials giant Breedon Group has snapped up Roadway Civil Engineering and Surfacing in North Wales.
The 拢13.5m deal has seen them take on the asphalt production and contract surfacing business based near Wrexham.
Roadway is a family-run business in Llay that was founded in 2000 and specialises in local authority term maintenance, minor road maintenance schemes and associated civil engineering works.
The purchase of the business coincides with the opening of a new asphalt plant on its Wrexham site.
Key management will remain with the business.
The total consideration, subject to completion adjustments, comprises 拢10.8m payable in cash on completion, together with up to 拢2.7m of deferred consideration payable in cash on performance over the next five years.
In the year to 31 July 2018 鈥 prior to the introduction of its new asphalt production capability 鈥 Roadway reported underlying EBITDA of 拢1.3m and profit before tax of 拢1.3m on revenues of 拢5.1 million.
Mike Pearce, managing director of Breedon Southern, said: 鈥淭his acquisition significantly strengthens our contract surfacing operations and establishes Breedon as a fully integrated business in North Wales.
鈥淭he Wrexham plant will expand our asphalt capacity in the region, complementing our units at Dowlow, Minffordd and Leaton, and enable us to offer a full asphalt supply and lay service throughout North Wales, Shropshire, Cheshire and Merseyside.
"Roadway also provides an additional route to market for aggregates from our quarries at Minffordd, Borras, Denbigh and Leaton.
鈥淲e are particularly pleased that Roadway鈥檚 management team has committed to remain with the business.鈥
Latest interim results for Breedon, which is headquartered near East Midlands Airport in north Leicestershire, showed a turnover of 拢447.4m in the year to June 30, 2018 - up 18 per cent on the previous year.
Pre-tax profits were up a third at 拢39.5m.
It is now the is the biggest independent construction materials business in Britain, with a nationwide network of quarries and aggregates operations extending from Stornoway in the Hebrides to Hampshire in the south.
Its contract surfacing and maintenance business undertakes minor road surfacing projects as well as major infrastructure contracts.
