(Alliance News) - Breedon Group PLC on Thursday said it has completed three recent bolt-on transactions, worth up to about GBP19 million, a day after moving to London's main market from AIM.
The Derby, England-based construction materials firm said it has completed its purchase of Robinson Quarry Masters Ltd. It said Robinson Quarry Masters is a family-run quarrying and concrete block business in Country Antrim.
"Robinson Quarry Masters enhances our aggregate reserves on the Island of Ireland and has a well-established customer base with exposure to housing, commercial and infrastructure end-markets," Breedon added.
In Great Britain, it said, it has bought two downstream businesses, Broome Bros Ltd and Minster Surfacing Ltd. Broome Bros is a manufacturer of concrete blocks based in Doncaster, whilst Minister Surfacing is a regional surfacing business based in Lincoln.
"Many of our transactions come to us through our local knowledge and personal engagement with the owners. As a result, our active M&A pipeline has continued to yield high quality, earnings enhancing opportunities that will enable us to progress our sustainable growth strategy," said Chief Executive Officer Rob Wood.
"Each of these independent family run businesses is aligned with our vertically-integrated operating model, providing further opportunity to pull through upstream building materials while extending our downstream footprint to deliver profitable growth.
Shares in Breedon were up 0.1% to 357.40 pence each in London on Thursday around midday.
By Sophie Rose, Alliance News reporter
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Breedon (BREE)