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News » UK » FM Conway buys into Toppesfield » published 21 Sep 2017

FM Conway buys into Toppesfield

Civil engineering contractor FM Conway has acquired a minority stake in road surfacing specialist Toppesfield.

Toppesfield is a major player in road surfacing works Above: Toppesfield is a major player in road surfacing works

FM Conway said that a partnership with Toppesfield would bolster its aggregates and asphalt business.

Chief executive Michael Conway said: “Toppesfield’s national reach and capacity complements our strong client base in surfacing, term maintenance, civil engineering and consultancy across London and the south of England, as well as our ongoing investment in our materials business.

“On the back of this new partnership we look forward to working to support both businesses’ clients across strategic and local frameworks to build a safe and resilient network that delivers a reliable, comfortable experience for all road users.”

Toppesfield’s latest accounts show pre-tax profit nearly doubling in the year to 31st May 2017, reaching £3.3m (2016: £1.7m), despite a substantial fall in revenue to £66.4m (2016: £81.0m).

Toppesfield will continue to be led by founder Matthew Pryor and his senior management team and will be free to maintain its strategy of purchasing from all the major suppliers, of which FM Conway will now be a significant part.

Toppesfield managing director Matthew Pryor said: “I am excited to welcome FM Conway as a partner in our business, the discussions we have had to date show that we have similar client-focussed values within the businesses and I firmly believe that we will be offering our clients continued excellence. We very much look forward to working with FM Conway on private industrial and major infrastructure projects as well as the strategic network.”




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This article was published on 21 Sep 2017 (last updated on 22 Sep 2017).

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