Deal of the day
In reporting half-year results which showed a 27% increase in earnings per share over the same period in 2015, the manufacturer and supplier of infrastructure products Hill & Smith has disclosed its second acquisition in less than a month.
Hill & Smith has acquired the Oldbury-based Signature from Plastic Omnium for £12.5m. Signature has businesses in street lighting columns, road sign and traffic management systems, and made operating profit of £1.9m on revenues of £14.8m in 2015.
The business is highly complementary for Hill & Smith’s division which has long been a national leader in the UK in construction products specialising in roads and traffic management. Hill & Smith’s chief executive Derek Muir says: “Signature has an excellent range of long-established products which will complement our existing product offering into the UK roads market.”
The deal follows a slightly smaller one in July when Hill & Smith bought Technocover from Ensor Holdings for £10m, augmenting its position in high-security access products for the utilities market.
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