Bank of Ireland supports Breedon Group plc in its £455m acquisition of Lagan Group
Bank of Ireland’s Industrials team has participated in the £500m facilities provided to Breedon Group in support of its acquisition of Lagan Group.
Breedon was already established as the UK’s leading independent construction materials group, producing cement, aggregates and a range of downstream products including asphalt, concrete and specialist building materials for the infrastructure, residential, industrial and commercial markets.
With the acquisition of Lagan, completed in April 2018, Breedon has significantly expanded its business and is now a leading construction materials group in the UK and Ireland.
Commenting on the transaction, Andy Morris, Bank of Ireland’s Head of Industrials, said: “We are delighted to be able to support Breedon, which has a very strong track record of growth, both organically and through complementary acquisitions. We look forward to supporting the Group in its mission to be the safest and most profitable construction materials company in the UK and Ireland.”
Rob Wood, Breedon’s Group Finance Director, added: “This acquisition expands our operations into the growing Irish construction market and enhances our range of services. We are pleased with the strong support from our relationship banks, including Bank of Ireland.”