Bardon jobs safe after takeover 18/4/13
The 50 or so jobs at Bardon Hebrides are expected to be safe after the firm is sold
to Breedon Aggregates - the UK’s largest independent aggregates company.
No redundancies are planned and it is business as usual for the Western Isles says
Breedon’s
Breedon’s was established in 2010 as an investment acquisition vehicles by finance
company Marwyn Investment Management.
Marwyn’s significant stake in Breedon’s is now diluted after it issued new shares
to raise finance, including the £34 million purchase of Bardon’s business interests
in the Western Isles, Grampian, Tayside and the Highlands. Investors include a number
of UK financial institutions.
It is keen to further expand by acquiring heavy building material rivals.
Bardon operates quarrying, tar plant and civil engineering businesses on Lewis and
Uist.
The acquisition puts Breedon in prime position to benefit from the construction of
large windfarms on Lewis as well as the shore-side works of the proposed sub-sea
energy cable.
It adds or six active quarries, four asphalt plants, seven readymix concrete plants
and two concrete block plants to the company’s Scottish portfolio.
Leicestershire-based Breedon Aggregates Limited is the largest independent aggregates
group in the UK.
The group's Scottish operations employ around 400 people, with headquarters in Angus.
Breedon chairman Peter Tom, a former chief executive of Aggregate Industries which
controlled Bardon’s, said the takeover is “consistent with our long-term aim of becoming
the lowest-cost operator in our chosen markets.
“We believe that they will put us in an even stronger position to benefit from any
UK economic recovery.”
Breedon also plans to buy out more UK building material companies.
It also owns nearly 40% of BEAR Scotland Limited, which manages the north-east and
south-east trunk road networks on behalf of Transport Scotlan. It also has a majority
stake in traffic management services company Alba Traffic Management.