The £336 million purchase of Hope Construction Materials by Breedon Group seemed to take an awfully long time to arrive. The deal, probably the last of any real size in the UK construction materials sector, was first announced in November 2015 but was not completed until August last year.
It kicked Breedon, which had previously been growing by small accretional purchases of regional plants, into another league, making it the biggest independent player in the UK industry. Breedon’s first set of results since the purchase was completed found it in confident mood, with the £10 million synergies identified arriving earlier than expected.
By bringing in a greater exposure to the north, Hope also allowed the company to carry out another deal — the £15.7 million