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Rand buys road planing from Associated Asphalt
17:22 14 Jul 2004
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Rand Group has bought Associated Asphalt's road planing business
for an undisclosed sum. Rand has taken on 32 staff and eight
planing machines, based in Henley-on-Thames, Oxfordshire.
The business will become part of Rand's National Road Planing (NRP) division. The move brings "a significant number of new customers to NRP, in addition to consolidating an ongoing workload with Associated Asphalt and its parent company Aggregates Industries" (AI).
It adds sales of £3.5m to NRP's £8.5m turnover. The acquisition is a good fit, complementing NRP's network of depots at Rand, Bulkington and Newton Abbott.
When CJ spoke to Rand chief executive Jonathan Wells earlier this year, he described NRP as a mature business, adding: "It's already the dominant player in its market, so it's pretty much at its limit; although one or two acquisitions are not out of the question in the next year or two."
AI bought Associated Asphalt in July 2002, when its then-parent Stenoak collapsed.
The business will become part of Rand's National Road Planing (NRP) division. The move brings "a significant number of new customers to NRP, in addition to consolidating an ongoing workload with Associated Asphalt and its parent company Aggregates Industries" (AI).
It adds sales of £3.5m to NRP's £8.5m turnover. The acquisition is a good fit, complementing NRP's network of depots at Rand, Bulkington and Newton Abbott.
When CJ spoke to Rand chief executive Jonathan Wells earlier this year, he described NRP as a mature business, adding: "It's already the dominant player in its market, so it's pretty much at its limit; although one or two acquisitions are not out of the question in the next year or two."
AI bought Associated Asphalt in July 2002, when its then-parent Stenoak collapsed.
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