A Newry concrete business has been put up for sale for over £1.5 million.
Family firm Smith Concrete, which is based in the Greenbank Industrial Estate in the city, employs 17 people and is on the market as a going concern.
Its mini-mix concrete business operates across the island of Ireland and has been in operation since 1984. The company was founded by James Smith, a bricklayer who identified a market for the manufacture and supply of concrete products.
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“We are excited to announce that Smith Concrete is now for sale as a going concern,” managing director of the business Jim Smith said. “We are proud of having grown the company to what it is today and believe the sale represents a fantastic opportunity for someone to take the business on, and take it to the next level.”
Included in the sale are a 2.1 acre site, the firm’s 7,500 square feet production facility, a concrete batching plant, a modular main office building, an admin facility building, and machinery, equipment and vehicles.
Smith Concrete has appointed Bradley NI to manage the sale.
Garrett O’Hare, Managing Director of Bradley NI, said he expects strong interest in the business.
“This is a very successful trading business with a track record spanning over 40 years that the owners have decided to put on the market due to retirement,” he said. “It is a rare opportunity for an interested party to acquire a company in this sector with such an established brand, strong client base, and expert team.
“We anticipate keen interest and would expect the asking price to be exceeded.”