Anchor Bay Construction Products has sold the entire issued share capital of the company to CRH (UK).
(UK) — Anchor Bay is a provider of reinforcement, formwork and waterproofing products and has clients ranging from the groundwork, concrete frame and pre-cast sections of the construction industry. The company is based in Erith, Kent. Law firm Clarion’s corporate team in Leeds advised Keir Donald and Phillip Greene, the founders of Anchor Bay Construction Products, on the sale.
The purchase of Anchor Bay was completed for an initial cash consideration of £7.5m, with a further £2.2m payable to the vendors subject to certain financial performance criteria being met. As part of the deal, the vendors will remain with the business. CRH (UK) is a division of international building group, CRH plc, which is headquartered in Ireland and has operations in 35 countries, including its Ancon Building Products subsidiary in Sheffield which it purchased in 2008.