Construction materials group SigmaRoc has acquired Topcrete Limited and its wholly owned subsidiary, Allen Concrete Limited.

The initial cash consideration of the deal is £9 million, with a deferred consideration of £3.5m.

Founded over 60 years ago, Allen Concrete is a specialist precast concrete producer, with operations in London and the Midlands. The company is known for its high quality wetcast and bespoke concrete products, supplying a wide range of clients ranging from builders' merchants to major infrastructure operators, including Network Rail.

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David Barrett, Chairman of SigmaRoc, said the deal "fits well with our strategy and builds on the successful platform we have created since the integration of Ronez".

"We are very pleased to welcome Allen Concrete to the SigmaRoc group, it has a solid history and is highly regarded in its sector," he said.

"This is another step in our ambition to generate shareholder value, while preserving the unique identity of the businesses we buy."

Max Vermorken, Chief Executive Officer (CEO), added: "Allen Concrete is another excellent example of the type of business we are seeking to acquire, as we roll out our buy-and-build strategy. It is a high calibre operation with a market leading position, that is driven by its specialist products and a workforce dedicated to quality. Allen Concrete is well placed for further organic growth, as well as bolt-on activities centred around its industrial landholdings in London, all of which will further boost SigmaRoc's EBITDA."

(LM/MH)