Breedon has completed the acquisition of Humberside Aggregates for £9m.
Humberside is a leading independent sand & gravel quarry and aggregates merchanting business based at North Cave near Hull in East Yorkshire, employing around 30 people. It supplies a broad range of customers including ready-mixed concrete and mortar producers, government agencies, local authorities, and local and national building and civil engineering contractors.
In the year to 30 April 2017, Humberside reported an underlying EBITDA of £2.1m on revenues of £14.9m. It has approximately 3.1m tonnes of mineral reserves, with the potential to secure additional reserves in the future.
Pat Ward, Breedon’s group chief executive, said: “This acquisition provides Breedon Southern with a valuable source of aggregates in the important markets of East Yorkshire and Humberside, where we already operate a sizeable ready-mixed concrete business. It will enable us to create value by internalising the supply of sand and gravel to our network of readymix and mortar plants, whilst serving a strong existing customer base throughout the region.”
