Pannone Corporate has advised on the sale of Eco-Readymix Ltd, a leading producer of mortar and concrete in the North West.
The company, which was established in 2004 and has sites in Wrexham and Ellesmere Port, was acquired for an undisclosed sum by Aggregate Industries, a member of the Holcim Group. The acquisition will reinforce Aggregate Industries’ position in the North West market and also help establish its place in the UK mortar market.
Pannone’s corporate team advised the shareholders of Eco-Readymix. The team included corporate partner, Tom Hall, Bez Borang and Sam Roberts. They were supported by James Harris, partner in the real estate team.
Hall said: “This is a fantastic deal. A regional business that is anchored in a traditional sector, but is forward-looking in its approach, particularly around sustainability and the environment.
“We’re delighted to see the business attracting the attention of a heavyweight, such as Aggregate Industries, and we will watch with great interest as the combined businesses make an even greater mark on the North West market.”
Eco-Readymix produces Ready to Use mortar and Dry Silo Mortar and serves national house builders, groundworkers and civil engineering firms alongside the domestic market.
It also produces ready mix concrete, liquid and traditional screed, concrete masonry blocks and aggregates. The company has strong sustainable credentials. Its Wrexham site is almost entirely powered via a biomass system alongside both wind and solar power. It employs 52 people across its sites.
Dragan Maksimovic, Chief Executive Officer of Aggregate Industries UK, said: “We are delighted to be able to announce the acquisition of Eco Readymix and welcome them to Aggregate Industries.
“As a business, it has clear sustainable values very much in line with our own and will strategically add to our strong footprint in the North West.
“This also marks our entry into the UK mortar market with a knowledgeable and ambitious management that has multiple synergies with our own. The acquisition supports our long-term strategy to continue to grow our business in order to become the UK’s leading supplier of sustainable construction materials and solutions.”
Picture credit: Iryna Melnyk
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