West Yorkshire-based Marshalls, a supplier of concrete and natural stone products for external landscaping, has entered into a conditional agreement to acquire Marley Group in a £535 million deal.
Burton-headquartered Marley is a leader in the manufacture and supply of pitched roof systems to the British construction market.
The acquisition is conditional, amongst other things, on the approval of Marshalls shareholders, and completion of the acquisition is expected to occur in late April / early May.
Martyn Coffey, Chief Executive of Marshalls, said: “The acquisition of Marley represents a significant step towards achieving our strategic goal to become the UK’s leading manufacturer of products for the built environment.
“Marley is a highly profitable business with established market positions across UK RMI and new build housing. Much like Marshalls, its position is underpinned by a track record of product quality and customer service, and we believe Marley will represent a strong cultural fit with our own business.
“We would like to welcome Marley’s management team and colleagues to the Marshalls family and look forward to working with them in the coming years.”
Marley’s management team, led by David Speakman (Chief Executive Officer), Dominic Heaton (Chief Financial Officer), and Paul Reed (Chief Operating Officer), will continue to lead Marley following the acquisition and Marley will operate initially as a standalone division within the Marshalls group.
David Speakman, Chief Executive of Marley, said: “Marley is a robust business with a strong future ahead of it. As part of the Marshalls family, I believe we will be extremely well-positioned to continue our growth strategy to the benefit of our colleagues, customers and partners.”
