Breedon Group plc completed the acquisition of BMC Enterprises, Inc.
March 06, 2024
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Breedon Group plc (LSE:BREE) agreed to acquire BMC Enterprises, Inc. for $300 million on March 6, 2024. The consideration consists of $285 million in cash and $15 million in common equity. $285m payable in cash on completion, subject to customary adjustments and retentions, funded through a draw down on Breedon's existing Revolving Credit Facility. In the twelve months ended October 31, 2023, BMC recorded unaudited Revenue of $178.9 million, unaudited gross assets of $168.2 million and unaudited adjusted EBITDA of $35.5 million. Completion is expected to occur by March 7, 2024, subject to customary closing conditions. Mike Krigbaum and Brandon Parris of Morrison & Foerster acted as legal adviser, and Mark Aedy, Chris Raff, Andrew Welby of Moelis and Company UK LLP is acted as a exclusive financial advisor to Breedon Group plc. Reg Hoare, Rachel Farrington, Charles Hirst of MHP acted as Public relations adviser in the transaction.
Breedon Group plc (LSE:BREE) completed the acquisition of BMC Enterprises, Inc. on March 7, 2024.
Breedon Group PLC is a United Kingdom-based vertically integrated construction materials company. The Company supplies the construction industry with the essential materials for construction. It produces aggregates, cement, asphalt, ready-mixed concrete, and specialist building products, and delivers surfacing solutions to the construction supply chain. Its products include Aggregates, Agricultural lime, Asphalt, Bitumen, Cement, Concrete products, Clay bricks and Clay products, Roof tiles, and Special products. Aggregates includes High PSV Aggregate, Sand and gravel, Subbase, Decorative Aggregates, Recycled Aggregates, Rock Armour, and Unbound Aggregates. Asphalt include Asphalt concrete, Colored surfacingâs, Hot rolled asphalt, Stone mastic asphalt, Porous asphalt, Low Energy Bound Mixtures. Special products include Anti-skid high-friction surfacing, Gripsurf, Treesurf, Geogrids. Its services include Breedon Mobile Concrete Solutions (BMCS) and Breedon Surfacing Solutions.