East Mids concrete producer sold in £12.5m deal

A Northants precast concrete producer has been sold in deal worth up to £12.5m.

SigmaRoc, the buy-and-biuld construction materials group, has swooped for Topcrete and its subsidiary, Wellingborough-based Allen Concrete.

For the year ended 28 February 2017, Allen Concrete recorded underlying profit before tax of £1.8m, EBITDA of £2m and consolidated revenue of £5.2m. The business employs 36 staff across its two sites in Wellingborough and London.

David Barrett, chairman on SigmaRoc, said: “We are very pleased to welcome Allen Concrete to the SigmaRoc group, it has a solid history and is highly regarded in its sector. The acquisition fits well with our strategy and builds on the successful platform we have created since the integration of Ronez. This is another step in our ambition to generate shareholder value, while preserving the unique identity of the businesses we buy.”

Max Vermorken, chief executive, added: “Allen Concrete is another excellent example of the type of business we are seeking to acquire, as we roll out our buy-and-build strategy. It is a high calibre operation with a market leading position, that is driven by its specialist products and a workforce dedicated to quality. Allen Concrete is well placed for further organic growth, as well as bolt-on activities centred around its industrial landholdings in London, all of which will further boost SigmaRoc’s EBITDA.”

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