Aggregates group pushes forward US business with strategic acquisition
Aggregates group Ennstone has continued its acquisition spree by snapping up Handyman Concrete in the US for £4.6m.
Handyman, which is based in West Virginia, will operate as a division of Ennstone’s US business.
The company’s main focus is on the Washington DC market. Handyman makes and supplies ready-mixed concrete to contractors and the general public.
Ennstone chairman Vaughan McLeod said that the reason for buying Handyman was to break into the Washington market, as well as capitalising on its strong asset base and valuable freehold land.
He said: “Our key US objective remains to develop our US aggregates business in order to fully capitalise on the potential for an integrated route to market for aggregates via our value added product plants.”
Handyman employs 32 people and in the year to the end of 2005 it made a $6.9m (£3.5m) turnover.
Ennstone has been hot on the acquisition trail recently, which included the purchase of Norwich-based company May Gurney Surfacing last November for £475,000.