Published: 00:00, 09 January 2017 |
Updated: 09:49, 09 January 2017
Infrastructure company FM Conway has announced its second takeover of an asphalt manufacturer in less than a fortnight.
The Sevenoaks-based business has acquired United Asphalt, which operates two plants in Theale and Croydon, from its owners Ross and Lisa Snape.
The deal follows a similar takeover announced last month, when it bought bitumen and asphalt maker Berkshire Macadam, which runs two plants in Reading and Aldershot.
United Asphalt employs 32 people and gives FM Conway a stronger foothold to the south and west of London. It is seen as a stepping stone into the South West.
It means it has businesses in all stages of an infrastructure project, from production and design to construction and maintenance.
The new acquisitions add to its asphalt plants in Erith and Heathrow, which supply highways and local roads across the UK.
Chief executive Michael Conway said: “This is an extremely exciting acquisition for us, which supports our self-delivery model and puts us into an excellent position to provide high-quality products on demand for our customers on both the strategic and local road networks.
“The new plants provide a much wider market spread for all divisions within our organisation, supporting both our existing contracts and future projects.
“The Croydon plant will support our delivery within and to the south of London.
“Theale, together with our recently acquired Reading plant, now gives us excellent access to the M4 corridor and to the south west of England.”
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