Breedon reaches for materials heights with £455m Lagan acquisition

19/04/2018
Chris Ames

Breedon has entered into a conditional agreement to acquire Belfast-based construction materials business Lagan Group for £455m.

It said the combination of the two companies will create a leading independent construction materials group in the UK and Ireland.

Breedon’s executive chairman, Peter Tom CBE (pictured), said: 'Over the last eight years we have pursued a successful buy-and-build strategy which has established Breedon as the largest independent construction materials business in the UK and the acquisition of Lagan is another strategic step for us.

'We believe it has the potential to add significantly to the Group’s performance and prospects and we are looking forward to working with our new colleagues to deliver further value for our investors.’

Kevin Lagan, chairman of Lagan Group, said: ‘I’d like to thank our committed and passionate staff for the role they have played in the growth of Lagan Group and I wish them every success as they enter an exciting new chapter with Breedon, who I am confident will build on that success, supporting the development of the business in the years ahead.’

In the year ending 31 December 2017, Lagan generated revenues of £249m and earnings of £46m.

Breedon will finance the purchase with a combination of a new £150m term loan, a new £350m revolving credit facility, which replaces Breedon’s existing £300m revolving facility, and a £170m equity placing.

Following the acquisition, Breedon Group plc will operate two cement plants, around 70 quarries, 40 asphalt plants, 200 ready-mixed concrete and mortar plants, nine concrete and clay products plants, four contract surfacing businesses, six import/export terminals and two slate production facilities.

It will employ nearly 3,000 people and have around 870 million tonnes of mineral reserves and resources.

Latest Issue

latest magazine issue

 

ALSO INSIDE:

  • Exclusive: Smart Motorways
  • Are you AI protected?
  • Traffex Parkex Evex Cold Comfort
View the latest issue


Highways jobs

Senior Engineer - Highways and Drainage

£40,221 - £44,428 + 12% Attraction + Retention Payment equating to actual pay £45,047 - 49,759
This is an exciting opportunity to join us as a Senior Engineer. Lincolnshire
Recruiter: Lincolnshire County Council

Service Manager - Highways (Asset and Traffic)

£48,474 to £51,515
A vacancy has become available for a Service Manager to join and manage our successful Highways Assets and Traffic team. Torbay, Devon
Recruiter: SWISCo

Traffic Management Technician - WMF1090e

Salary £26,421 - £27.334
This is a role for Traffic Management Technician to be based in the Eden area. Penrith, Cumbria
Recruiter: Westmorland and Furness Council

Assistant Arboricultural Consultant

£26100 - £30706 per annum + + 26 Days Leave & Defined Benefit Pension
Assistant Arboricultural ConsultantPermanent, Full TimeUp to £30,706 per annumLocation
Recruiter: Essex County Council

Heavy Goods Vehicle Mechanic

£27,507 - £29,418
You will need to be suitably experienced, hold a minimum of an NVQ Level 2 (or equivalent). Derby
Recruiter: Derbyshire County Council

Principal Engineer - Highways Development Management

£48,378 - £51,571
You will play a lead role on all major highway development proposals across West Northampton. One Angel Square, Northampton
Recruiter: West Northamptonshire Council

Transport Planning & Data Manager - CMB1061e

£62,273 - £65,017
Cumberland Council is a dynamic and forward-thinking authority dedicated to enhancing public services Cumbria
Recruiter: Cumberland Council

Transport Planner (Area Travel Plans) OCC616326

£39,186 - £42,403 per annum
It doesn’t matter where you’ve been, or where you’re going, it’s about the journey. Oxfordshire
Recruiter: Oxfordshire County Council

2x Technical Lead (Area Travel Plans) OCC616320

£43,421 - £46,464 per annum
It doesn’t matter where you’ve been, or where you’re going, it’s about the journey. Oxfordshire
Recruiter: Oxfordshire County Council

Assistant Transport Planner OCC616317

£29,269 - £32,076 per annum
It doesn’t matter where you’ve been, or where you’re going, it’s about the journey. Oxfordshire
Recruiter: Oxfordshire County Council

Principal Engineer - Highways Development Management

£48,378 - £51,571
We are looking for an experienced and talented professional to join West Northampton Council as our Highways Development Principal Engineer. One Angel Square, Northampton
Recruiter: West Northamptonshire Council

Structural Highway Maintenance – Highway Engineer

£36,648 - £39,186 per annum
An exciting opportunity has arisen for a driven and self-motivated engineer to join our Structural Highway Maintenance Team. Warwickshire / Countywide
Recruiter: Warwickshire County Council

Highway Asset and Development Manager

Grade N Scp 50 £59,031 to Scp 53 £62,076, plus car allowance
To be responsible for leading, developing and delivering an effective, efficient and safe Highway Asset Management Service Bolton, Greater Manchester
Recruiter: Bolton Council

Highways Engineer

£37,336 - £39,186
Wiltshire Highways – Enhancing Lives, Building Communities Wiltshire
Recruiter: Wiltshire Council

Engineer

£40,221 - £51,515
As part of a friendly and enthusiastic team, you will play an important role in designing innovative urban transport and public realm projects 100 Temple Street Redcliff Bristol BS1 6AN
Recruiter: Bristol City Council

UGO Bus Driver

Up to £23344 per annum
UGO Bus DriverPermanent, Full Time and Part TimeUp to £23,344 per annum (FTE)Location
Recruiter: Essex County Council

Parking Finance and Debt Officer RBKC616576

£37,575 - £41,286 per annum
In Kensington and Chelsea, we put local people and local businesses at the heart of decision-making Kensington and Chelsea, London (Greater)
Recruiter: The Royal Borough of Kensington & Chelsea Council

Street Services Officer RBKC616598

£31,716 - £35,862 per annum
Keeping our streets safe and our road-users well-informed Kensington and Chelsea, London (Greater)
Recruiter: The Royal Borough of Kensington & Chelsea Council

Highways Network Engineer WMF1059e

£42,403 - £43,421
We are looking for strong communicators, as you will provide technical advice and guidance to colleagues Kendal, Cumbria
Recruiter: Westmorland and Furness Council

Workshop LV Technician MOT Tester

£29,777 - £32,076 (pay award pending)
The RMBC Workshop Maintenance team has an excellent opportunity for a qualified Workshop LV Technician/MOT Tester Rotherham, South Yorkshire
Recruiter: Rotherham Metropolitan Borough Council

Highways Presents

 


Latest Video