Thu, 18 May 2023 | BUSINESS SALE
Construction materials firm Breedon Group has completed three bolt-on acquisitions with a combined enterprise value of up to £19 million. The acquisitions of three family-run businesses have seen the group further expand its presence in England and Northern Ireland.
The group, which has operations across Great Britain and Ireland, has acquired Robinson Quarry Masters, Broome Bros. Ltd and Minster Surfacing Ltd. The deals are part of Breedon’s “active M&A pipeline”, which forms a core part of the group’s sustainable growth strategy.
Robinson Quarry Masters is a quarrying and concrete block business based in County Antrim. The acquisition of Robinson sees Breedon group extend its footprint in Northern Ireland north of Belfast, whilst simultaneously enhancing its aggregate reserves on the island of Ireland. Robinson operates in the housing, commercial and infrastructure end-markets and is described as having a well-established customer base.
Broome Bros Ltd is a concrete block manufacturer based in Doncaster, headquartered adjacent to one of Breedon Group’s existing ready-mixed concrete facilities. Minster Surfacing Ltd, meanwhile, is a Lincoln-based surfacing business. The firm, which is described as having strong sustainability credentials, has a diverse portfolio of work spanning across London and the Midlands.
Discussing the group’s M&A activity, Breedon Group Chief Executive Rob Wood said that many of the firm’s acquisitions “come to us through our local knowledge and personal engagement with the owners.”
According to Wood, this means that the group’s M&A pipeline “has continued to yield high quality, earnings enhancing opportunities that will enable us to progress our sustainable growth strategy.”
Regarding Breedon's latest bolt-on acquisitions, Wood said that each of the businesses was aligned with the group's “vertically-integrated operating model” and would deliver opportunities to both source upstream building materials and extend its downstream footprint in order to generate future profitable growth.
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