Kendall Group, a Portsmouth-based manufacturer of ready-mixed concrete and aggregates, has been acquired by Aggregate Industries.
Part of the LarfargeHolcim Group, Aggregate Industries specialises in construction and infrastructure; its purchase of Kendall Group allows it to expand, not only into the South East market but also into the dredging sector.
James Cowper Kreston’s Corporate Finance team worked for the owners of Kendall Group – Richard, Peter and Nick Kendall – on the sale of the business which included identifying potential buyers globally and the management of the sale process to ensure a smooth transaction for both parties.
Stewart Lambert, partner at James Cowper Kreston, said: “We were working with the three brothers who were looking to sell the family business as part of a retirement sale. We considered a wide range of potential acquirers and ultimately chose to sell to Aggregate Industries who have the opportunity to expand their business, not only geographically but into a new sector. This is another example of James Cowper Kreston selling a high-profile South Coast family owned business following the recent sales of Lambert Brothers and Oceanair.”
Richard Kendall said: “We would like to thank Stewart and his team for the excellent result that they delivered myself and my brothers. They worked with us very closely for nearly a year and clearly explained the disposal process at all stages and managed the auction very effectively. We are delighted to have found such a good partner as Aggregate Industries and are very confident about the future of the business under their ownership.”