The MTD companies, which operate through a series of nationwide depots, work within the local authority, social housing and construction markets.
Altrad NSG has now filed its results for the year to 31 August 2012 showing the impact of the acquisition, which was made in March 2012. Prior to being bought by NSG, MTD had annual turnover of £3.5m.
Altrad NSG managing director Michael Carr said: “The last financial period has been a success for the Altrad NSG group in terms of trading performance. We now employ 500 people across the UK, whilst maintaining the highest standards in health and safety.
“The strategic acquisition of the MTD companies – allied to the award of new contracts for Altrad NSG and an increase in our service provision to include rope access work – has produced a combined turnover for the Altrad NSG group of over £23m during the period to August 2012, returning strong underlying operating profits and a combined fixed asset spend of over £1.5m in the period. A large proportion of this investment was in the market-leading Contur system scaffold product which is manufactured within the Altrad group."
Altrad NSG works with a range of blue chip construction clients, providing scaffolding and rope access systems, insulation, painting, coatings, blasting and industrial cleaning. Core sectors include on and offshore oil and gas, petrochemical, pharmaceutical, power generation (including nuclear), steel production, shipbuilding, rail and civil infrastructure.
In 2011 the business was purchased by French based multinational Altrad SA. Altrad SA is a market leader in the construction equipment and industrial services market throughout Europe.
Mr Carr added: “With the support of our parent company Altrad SA which has over 70 subsidiaries worldwide, NSG is well positioned to continue to grow and trade profitably throughout the current financial year.”
Got a story? Email news@theconstructionindex.co.uk
