Fourth-generation manufacturing firm acquired by listed business
A £25m-turnover precast concrete flooring manufacturer which was founded in 1947 has been acquired by listed building products firm Ibstock – with all 117 staff moving to the new company.
Founded in 1947, Dewsbury-based Longley Group is family-run throughout and the fourth-generation Longley family members will remain with the business as full time executives post acquisition.
Michael Longley, Managing Director at the Longley Group, said: “Since its founding in 1947, four generations of the Longley family have been responsible for stewarding the business, and we’re excited for this new chapter in its growth. We’re looking forward to staying with the business and making the most of the opportunities that being a part of Ibstock will bring. Our advisers, Mazars and Clarion, were instrumental in facilitating a smooth transaction, and we welcome this new era with enthusiasm”.
Mazars’ Leeds M&A team of Alex Baskeyfield and Arran Smedley advised on the transaction. The acquisition encompasses the entirety of the Longley Group operations, and all 117 employees will remain with the business.
Ibstock is one of the UK’s leading building products businesses, with 38 sites across the UK. The addition of the £25m turnover Longley Group creates a leading national presence in the concrete flooring market, and will enable additional investment in Longley’s Dewsbury factory, submissions for which have already been granted planning permission.
Alex Baskeyfield, Partner at Mazars, said: “This is a positive story for the Yorkshire manufacturing sector, creating jobs and positioning the business for continued growth. This acquisition is underpinned by a strong strategic rationale, generating clear opportunities for the business around geographic reach, distribution network and manufacturing capacity”.
Mazars LLP and a team from Clarion (led by Hitesh Tailor) provided corporate and legal advice, respectively, to Longley Group, and Hill Dickinson advised Ibstock.
