Construction News

Tue June 18 2024

Related Information

US acquisitions boost Molson turnover

10 Jun Bristol-headquartered construction machinery dealer Molson Group saw strong growth last year but expansion came at the expense of short-term profitability.

Molson acquired three US Powerscreen dealerships in quick succession
Molson acquired three US Powerscreen dealerships in quick succession

In the year to 30th September 2023, Molson Group turnover grew by 18% to £338.0m (2022: £285.8m) thanks to recent acquisitions in the USA.

The turnover of the UK business fell by £11.5m to £251.7m.

Molson is part owned by BFG, a private equity firm controlled by UK high street banks. Expanding into the USA, Molson acquired 85% of Powerscreen of California in April 2022 for £14m and in October 2022 added Powerscreen of Washington (Washington state, that is, not DC) for £31m. On 31st August 2023 it then also bought Arizona-based Powerscreen Western for £2m. All three business are distributors of Terex Powerscreen crushing and screening machinery.

In the 2023 financial year operating profit increased marginally to £15.9m (2022: £15.7m but pre-tax profit slipped to £8.1m (2022: £13.0m) due to a substantial increase in interest repayments.

Got a story? Email news@theconstructionindex.co.uk

MPU
MPU

Click here to view latest construction news »