Takuechi Finance Takuechi Finance
Follow us on Twitter Follow us on LinkedIn Follow us on Instagram
Daily construction news
Weekly plant news

Construction News

Thu April 19 2018

Related Information
Related Information
Related Information
Related Information

News » UK » Wade takes Alumasc from rain to drain » published 1 Feb 2018

Wade takes Alumasc from rain to drain

Gutters and drainpipes producer Alumasc has taken over drains firm Wade International for £8.0m.

Wade gullies Above: Wade gullies

Wade makes metal drainage products and access covers, so the acquisition enables Alumasc to offer ‘rain to drain’ solutions.

Wade also extends Alumasc’s export reach, particularly to the Middle East.

Under the deal Alumasc is paying £14m for the business, but Wade has £6m cash in its account, so net payable is £8m

In the year to 30th June 2017, Wade generated revenues of £5.7m and reported profit before tax of £1.4m from capital invested of £3.2m. Wade's gross assets at 30th June 2017 were £12.4m.

Wade’s 56 employees will remain with the business after completion. Prior to its acquisition by Alumasc, Wade was privately owned by Ralph Thomas, who turned 70 last year.

Wade owns and occupies a 52,000 sq ft freehold property in Halstead, Essex, which has space for expansion. Alumasc said that this additional capacity would be "valuable in the broader planning" for the relocation of Alumasc Water Management Solutions over the next two or three years.

 

 

MPU

Download our free construction news iPhone / iPad app. Sign up to our FREE email newsletters or subscribe to our RSS feed for regular updates on the latest Construction News, Plant News & Contract News. The Construction Index also provides the latest Construction Tenders, Construction Market Data & Construction Law Commentary all FREE.

This article was published on 1 Feb 2018 (last updated on 1 Feb 2018).

More News Channels