08 Nov Clairfield advises CPM Group on the sale to Marshalls plc
CPM Group, a market leader in pre-cast concrete products, was sold to Marshalls plc, a UK-listed construction and building products supplier.
CPM Group designs, manufactures, and distributes concrete drainage products for the construction industry. Its product portfolio includes concrete pipes, containment and inspection chambers, manhole covers, retaining walls, and other bespoke industrial concrete products. Established in 2004, CPM is headquartered in Somerset with a technical center in Wombourne and an operation in Leek specializing in manholes. The business has worked on major infrastructure projects such as Hinkley Point A, HS2, and A14 Cambridge and has 2016 reported revenues of GBP 51.2 million and pre-tax profit of GBP 4.6 million.
Established in the 1890s, Marshalls is a complete external landscaping, interior design, paving, and flooring products business. With over 2000 employees, the business supplies superior natural stone and innovative concrete products to the construction, home improvement, and landscape markets across the globe.
CPM Group was sold to Marshalls Plc for an enterprise value of GBP 48 million.
Alan Hampton, director of CPM commented: “The team at Clairfield UK worked closely with shareholders and added significant value in shaping and delivering the final deal. Their considered and commercial approach enabled the transaction to hit a very tight timetable and deliver a great result for all stakeholders.”
Martyn Coffey, chief executive of Marshalls, said: “CPM is a profitable business with a strong track record of quality and service, primarily targeting public sector and commercial end users, and the acquisition will expand Marshalls’ product range into below ground drainage.”
Clairfield International acted as exclusive financial advisor to CPM Group.