Marshalls acquire precast concrete specialists CPM
Acquisition in a strategic focus area marks a key step towards company’s future vision
MARSHALLS plc have acquired CPM Group, specialist manufacturers of concrete pipes, containment chambers and other concrete infrastructure products for underground water management, for an undisclosed sum.
The company, which had a turnover of £51 million in 2016 and currently employs around 350 people, mainly at its manufacturing sites at Mells, in Somerset, and Pollington, in East Yorkshire, is now trading as Marshalls CPM, and for the foreseeable future will continue to run as a standalone business.
Water management has long been a strategic focus area for Marshalls, and it plays a key role in the company’s future vision. Marshalls’ finance director, Jack Clarke, said: ‘We firmly believe that the addition of CPM’s products will accelerate our progress towards reaching our vision, and enable us to offer our customers new products that expand our existing water-management offering.’
He added: ‘We believe there is a good fit, both economically and culturally, between CPM and the Marshalls Group, and that this transaction will be for the benefit of all our employees.’
Mike Stacey, managing director of CPM Group, commented: ‘We are thrilled to be a part of the Marshalls Group of businesses, and I know I speak on behalf of the rest of the senior leadership team that we are all looking forward to the future.
‘Marshalls and CPM both have a reputation for quality and innovation. By combining the strengths of Marshalls and CPM, we expect there to be opportunities for our companies to accelerate profitable sales growth and extend access to new customers and markets.’