Displaying items by tag: Breedon Group

US: Global Cement understands from material published publicly on Breedon Group’s website that the UK-based company acquired ready-mix concrete, aggregates and building products company BMC Enterprises for US$300m on 6 March 2023. This marks the group’s first entry into the US building materials sector. Breedon Group described the acquisition as a ‘compelling opportunity’ in the ‘fragmented and growing’ market. It described BMC Enterprises as a highly attractive, established business upon which to grow a new group platform in the US, in addition to its existing platforms in the UK and Ireland.

Breedon Group CEO Rob Wood said “The acquisition of BMC represents a compelling opportunity for Breedon to launch our third platform. BMC has an excellent performance track record over a sustained period and is positioned in an attractive market for future growth. As a high-quality aggregates and concrete business that has grown at pace, organically and through acquisitions, with a strong management team and deep local knowledge, BMC’s culture and values are fully aligned with the Breedon business model.” Wood added "The acquisition is expected to be earnings-enhancing for shareholders, while allowing Breedon to maintain a conservative and flexible balance sheet to pay dividends and make further bolt-on acquisitions across each of our platforms as opportunities arise.”

UK: Recycl8 has completed its first large-scale commercial project in partnership with Breedon Group. The partners supplied R8 Mix reduced-CO₂ concrete for the installation of an industrial floor slab at Aurora Energy Services site in Inverness. R8 Mix concrete is produced using incinerator bottom ash and Breedon Group’s blended cement.

Recycl8 chief executive officer Mark Gillespie said "We are excited to be working with Aurora Energy Services. It is particularly gratifying for us to be carrying out our first large-scale commercial project with an organisation which is committed to supporting the energy sector transition to net zero, with a particular focus on the renewables sector. With our commitment to fostering a sustainable, circular-economy future for the construction industry by playing our part in lowering carbon emissions from concrete manufacture, we share the same values and synergies."

UK: Recycl8 and Breedon Group have poured concrete containing Recycl8’s R8 Mix additive at the site of the upcoming Huntingtower residential block in Perth, Scotland. The R8 Mix additive contains recycled materials, helping to lower the CO₂ emissions of construction projects. Meanwhile, Breedon supplied blended cement from its Breedon Balance range of reduced-CO₂ products.

Breedon commercial manager Craig Godsman said "We are really pleased to be involved in this innovative project using Recycl8's sustainable R8 Mix concrete technology. It aligns perfectly with our commitment to decarbonisation, with the provision of lower carbon solutions through our Breedon Balance range of products.”

UK: Breedon Group has acquired concrete block producer Broome Bros., construction firm Minster Surfacing and concrete block and aggregates producer Robinson Quarry Masters. Breedon Group said that the businesses will strengthen its presence around Doncaster in South Yorkshire, in Antrim, Northern Ireland, and 'from the Midlands to London.'

CEO Rob Wood said “Many of our transactions come to us through our local knowledge and personal engagement with the owners. As a result, our active mergers and acquisitions pipeline has continued to yield high quality, earnings-enhancing opportunities that will enable us to progress our sustainable growth strategy." He added "Each of these independent family-run businesses is aligned with our vertically-integrated operating model, providing further opportunity to pull through upstream building materials while extending our downstream footprint to deliver profitable growth.”

Business Live News has reported that the group has also completed its transition to the London Stock Exchange from the AIM exchange. Breedon Group said that this will enhance its corporate profile by helping to attract greater international investment.

UK: Breedon Group’s sales revenue grew by 33% to Euro1.48bn in 2021 from Euro1.11bn in 2020. Its statutory earnings before interest and taxation more than doubled to Euro153m from Euro74m. Cement and concrete sales volumes increased by 20% to 2.4Mt and 23% to 3.2Mm3 respectively. The group described 2021 as an ‘exceptional’ year for its cement business due to pent-up demand following the outbreak of the Covid-19 pandemic.

“2021 was a record year for Breedon. We navigated the second year of the pandemic successfully, supplied our customers with more materials than at any point in our history and fully integrated the Cemex assets,” said chief executive officer Rob Wood.