Hill & Smith reveals £26m double acquisition

Hill & Smith, the transport infrastructure group, has bought US firm National Signal in a deal worth around £22.2m.

National Signal, based in Fullerton, California, and led by Mark Fernandez, is a designer, manufacturer and supplier of off-grid solar lighting solutions in the USA. It offers a range of solar lighting and traffic management products across road and other infrastructure applications.

In the twelve months to 30 June 2022, National Signal reported unaudited revenue of $27.3m, adjusted EBITDA of $3.4m and gross assets of $8.3m.

Hill & Smith has also completed the acquisition of Widnes Galvanising for £3.7m.

Alan Giddins, executive chair, said: “National Signal is a high growth temporary solar lighting business, operating in a market with excellent long term potential. Following our investment in Prolectric Services, Hill & Smith has gained significant experience in off-grid solar lighting and energy solutions, and the acquisition of National Signal will further accelerate our strategy in this highly attractive market.

“The acquisition of Widnes Galvanizing is aligned to our UK galvanizing growth strategy and complements our existing geographic footprint by enhancing our presence in the north west of the UK. I am delighted to welcome both National Signal and Widnes Galvanizing and their employees to the group.”