Breedon Group Acquires Severn Sands
Harding Evans advised Severn Sands Ltd on its sale to Breedon Group, confirming the latter’s entry into the UK’s marine aggregates sector.
The acquisition was completed for an undisclosed sum.
Breedon is one of the UK’s largest independent construction materials groups. Headquartered in Jersey, the group produces cement, aggregates, asphalt, Welsh slate, ready-mixed concrete and a range of specialist concrete and clay products, in addition to offering a range of contracting services.
Severn Sands is a Newport-based firm that generates £9 million in annual sales revenue and holds valuable long-term extraction licenses enabling its dredging of up to 500,000 tonnes of sand from the Severn Estuary each year. The company is also a major supplier of ready-mixed concrete in Newport, Bristol, Cardiff and the Valleys.
Harding Evans advised the shareholders of the family-run business with a team comprising partners Mike Jenkins and James Young from its commercial team. The firm has represented Severn Sands for over 40 years.
“I can’t thank Harding Evans enough for their highly professional advice and assistance in connection with the sale to Breedons,” commented Bob Breen, shareholder and director of Severn Sands. “They made the whole process as simple and straightforward as expected.”