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Altrad buy-out scaffolding contractor,
NSG UK
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Flint Bishop has advised French firm Altrad on the acquisition of an £20 million turnover UK scaffolding company.
French-owned building products company, Altrad has acquired the entire share capital of Deeside-based scaffold contractor NSG U.K. Ltd. The Deeside-based company was established as the Northern Scaffold Group in 1971 and now employs 320 staff with revenues in the region of £20 million.
The deal was completed by a team led by Ran Oren, partner and head of corporate at Derby law firm Flint Bishop, who represented Altrad. PwC also acted for Altrad, whilst Freeth Cartwright LLP’s Manchester office acted for the sellers of NSG U.K. Ltd.
NSG managing director Mike Carr will remain in charge of the UK operation, which has expanded beyond its scaffolding origins to offer thermal insulation, industrial cleaning and industrial painting.
Montpellier-based Altrad specialises in the manufacture and sale of scaffolding, cement mixers and wheelbarrows. The deal forms part of Altrad’s expansion plans in the UK scaffolding market and follows its £7.1m acquisition of Beaver 84 earlier this year.
Commenting on the transaction, Ran Oren at Flint Bishop said:
“We are delighted to have worked with Altrad on this acquisition, which forms part of Altrad’s expansion plans in the UK scaffolding market.
“This deal reflects the increasing number of overseas investors and trade buyers who are currently targeting the UK market. Flint Bishop is currently involved working on a number of international deals involving German, American and French interests,” added Ran.
Mike Carr added:
“There is a tremendous opportunity for NSG UK to continue its growth with the support of the Altrad Group.
Altrad chief executive Mohed Altrad added:
“This latest exciting acquisition provides a company with a wealth of experience, highly professional with safety at the core of the values and a strong, highly driven management team headed up by Mike Carr as managing director.
“The acquisition forms part of a bigger plan to provide the UK market with services and products from Altrad which specialise in the manufacturing and sales of scaffolding, concrete mixers and wheelbarrows, together with providing additional services in the scaffolding sector.
The acquisition of NSG brings the total number of companies owned by Montpelier based Altrad to 54.
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