Expansive French multinational Altrad has deepened its footprint in the UK with the acquisition of Trad Group, a scaffolding contractor and rental company, for an undisclosed sum.
With an annual turnover of £ 45 million (US$ 73 million), Trad Group operates a London-based scaffolding contracting business and a UK-wide access equipment, building equipment and safety products rental and sales business.
The company, which employees around 450 people, will continue to operate from its current locations around the UK. Hayden Smith will remain as chairman, together with Des Moore as managing director and Alan Skeats as financial director.
Ray Neilson, managing director of Altrad’s UK arm Altrad Belle UK, said the acquisition was part of the company’s wider strategy for the UK market.
“This acquisition forms part of the bigger plan to provide the large UK market with products and services from Altrad, which specialises in the manufacturing and sales of scaffolding, cement mixers and wheelbarrows, together with providing additional contracting services in the scaffolding sector,” Mr Neilson said.
Indeed, Altrad said the latest deal brought the number of companies it owned to over 80, with the majority being located in Europe.
Altrad CEO Dr Mohed Altrad said, “The strategy of the Altrad Group remains to grow the business in a controlled and sustainable manner for the benefit of the customers, employees, shareholders and partners.”
He added that Altrad was very keen to hear from companies involved in any element of the scaffolding, cement mixers or wheelbarrow sectors that are interested in joining the group, preferably with a turnover of more than £ 10 million (US$ 16 million).