Mon, 16 Nov 2020 | BUSINESS SALE
The Leeds-based pre-construction enabling and excavation firm Moorhead Group has expanded with the acquisition of Derby-based East Midlands Demolition (EMD).
The deal forms part of Moorhead’s plan to expand its range of works services and geographical coverage.
Moorhead Group co-founder Jonathan Prutton said: “We are delighted to have acquired EMD. It’s one of the most capable and respected demolition companies in the region and is a perfect fit with our plans for expansion and ability to offer a complete enabling works solution.”
“From our base in Leeds we have become the industry leader in the region and our plans now are to replicate this success in the East Midlands by offering our customers a one-stop-shop for their pre-construction enabling work-related needs.”
“We have also opened a West Midlands office in Stoke-on-Trent to service those areas within a 50 miles radius of Stoke.”
“This means we are now well-placed to operate a variety of projects, from residential sites to large scale commercial, public sector and industrial developments across the West Midlands.”
Fellow co-founder Philip Horsnall added: "Whilst this is a significant step in our strategic and organic expansion, our search for additional businesses to join the group is ongoing.”
“Through our present management team and extensive vehicle, plant and equipment holding, we are very well placed for future growth. As such, we continue to seek the right business to add to our portfolio and are actively recruiting new personnel to strengthen our team."
In its most recent accounts, to year ended November 30 2019, EMD reported fixed assets of £1.395 million, down from £1.5 million a year earlier. Its current assets were valued at £905,554, with net assets of £1.5 million.
EMD Managing Director Winn Jones commented: “Being part of the Moorhead Group will raise our profile, extend our geographical reach and allow us to offer the full range of enabling work services. The future looks very exciting.”
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