Berkshire: EY advises on sale of United Asphalt to FM Conway

EY’s regional corporate finance team has acted as lead adviser to the shareholders on the sale of United Construction Materials (United Asphalt) to FM Conway.

United Asphalt is a leading independent asphalt business with its headquarters at Theale in Berkshire. The firm employs 32 staff and operates two asphalt plants. One plant is at Theale and the other in Croydon, and the company also has a recycling depot at Colthrop in Berkshire.

FM Conway is a leading highway infrastructure maintenance company also based in the South East of England.

Ross Snape, chairman of United Asphalt, said: “We have worked closely with EY for a number of years and have been delighted with the corporate finance advice it provided. The experience, insight, dedicated support and strategic advice offered by EY was extremely valuable throughout the process.”

EY’s corporate finance team was led by Richard Jones, who commented: “This is an exciting acquisition which allows United Asphalt to expand its share of the asphalt supply and contracting market, enlarge its geographic area, and benefit from an integrated rail, road and sea distribution network.”

EY’s regional corporate finance team was led by Richard Jones, Tony Trussell and Chris Eastman, assisted by Tim Amey, James Skade and Dave Guy.

TLT LLP provided comprehensive legal advice to the shareholders throughout the transaction with a multi-disciplinary team led by John Wood and Nina Searle. Having worked with United Asphalt from the initial acquisition of the business, TLT was a highly valued partner for EY in the transaction.