Breedon swoops on three acquisitions
Building materials group Breedon has made three bolt-on transactions in recent days with a combined enterprise value of £19m.
The three businesses are Robinson Quarry Masters Limited, a family-run quarrying and concrete block business in Country Antrim, Doncaster concreteblock producer Broome Bros Limited, and Minster Surfacing Limited, a regional surfacing business based in Lincoln.
"Many of our transactions come to us through our local knowledge and personal engagement with the owners,” said Breedon chief executive Rob Wood. “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.
"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. We are delighted to welcome our new colleagues to Breedon and look forward to working with them."
Minster said that it would remain a distinct brand within Breedon under the new ownership and that co-founder Bruce Spencer-Knott was staying on as managing director.
“After 24 years of growing Minster Group into one of the country’s leading independent contractors, it’s time to take things to the next level, securing its future as part of Breedon Group,” Bruce Spencer-Knott said.