IKO PLC has completed its acquisition of Pure Asphalt Company, in Bolton, Lancashire, following regulatory clearance. The business is now being fully integrated into IKO.
Andy Williamson, IKO UK group managing director, said: “A high standard of service will be maintained for Pure Asphalt Company customers, who will benefit from IKO’s additional all-round service and project support. IKO is a family-run company with factories in Chesterfield, Matlock and Wigan, and the acquisition is part of our continued expansion strategy and commitment to the UK construction industry.”
Pure Asphalt is one of the leading mastic asphalt manufacturers in the UK and supplies products for roofing, flooring, paving and tanking. “Its products, packaging and production methods are an excellent fit with IKO’s own,” added Mr Williamson.
“We aim to bring production in line with the same high environmental standards as our other UK plants. Our mastic asphalt products for roofing, tanking and highways are all manufactured in the UK under ISO 14001 for environmental management and BES 6001 for responsible sourcing of construction products.”
Mazars LLP provided financial due diligence and national law firm Weightmans LLP provided legal advice to IKO PLC for this acquisition.