Kilwaughter quarrying firm in strategic acquisition of British rival
LARNE-based quarrying firm Kilwaughter Minerals has made a strategy acquisition of a firm in Northamptonshire which will make it one of the leading render manufacturers and external wall insulation suppliers in the UK and Ireland.
The privately-owned Kilwaughter has paid an undisclosed sum to Alumasc Facades, part of Alumasc Exterior Building Products Limited and which in turn is a subsidiary of Alumasc Group PLC.
The acquisition is in line with Kilwaughter's growth strategy to build a long term sustainable business across the UK and Ireland, and gives greater operational scale to the business.
Alumasc Facades is a leading UK supplier of external wall insulation systems and render products. Offering a premium and diverse range of tested and certified systems suitable for all types of construction, it has proven experience in new build and refurbishment schemes.
Kilwaughter - which employs 200 people across two manufacturing sites and six distribution facilities - is a long-established quarry and mineral processor, manufacturing and distributing innovative limestone based products under the market leading K Rend and Kilwaughter Lime brands. It is also the UK’s largest independent manufacturer of silicone render.
Managing director Simon McDowell said: "This key acquisition supports our strategy of becoming the brand of choice, investing for growth and ensuring a long-term sustainable business.
"It will provide us with a major growth opportunity to develop the business with our greater operational scale, access to raw materials and expertise in manufacturing render whilst utilising Alumasc’s extensive range of system solutions, routes to market and technical expertise.”
The takeover comes as parent company Kilwaughter Holdings Limited revealed that consolidated group turnover increased by 4 per cent to £33.7 million for the 12 months to April past as £2.8m was invested in the company during the same period and pre-tax profit was £7.7m.
Kilwaughter's growth plan includes the appointment of a chief executive officer, with current managing director Simon McDowell changing his role to non-executive director. The CEO appointment is expected to be completed by early next summer.
HNH acted as lead corporate finance advisers on the deal, advising Kilwaughter Minerals on the acquisition.
The team was led by Craig Holmes, who said: “HNH was delighted to act for one of Northern Ireland’s leading privately owned companies in this transaction.
"This acquisition will strategically enhance Kilwaughter’s GB presence and offer further growth opportunities across their markets. It is another good news story for Northern Ireland plc.”