Hill & Smith buys firm for £22.5m
Hill & Smith Holdings has added another business in Merseyside to its portfolio.
It has bought ATG Access in St Helens for £22.5 million to strengthen its position in supplying infrastructure products such as bollards and barriers.
The Solihull-headquartered group, which employs 4.400 in seven countries, mainly manufactures products for the construction industry.
It includes its namesake motorway barriers factory at Bilston; Halesowen-based galvanising firm Joseph Ash, which also has sites in Telford, Walsall and Bilston, and Oldbury-based street lighting firm Signature.
Derek Muir, group chief executive, said: "ATG provides high security and traffic management solutions and is the UK's leading manufacturer of bollards, road blockers and vehicle barrier systems.
"The acquisition provides the group with a strong platform to introduce new products and new geographies, thereby accelerating the expansion of both our existing UK and international roads businesses. We are excited to welcome ATG and its employees to the group."
ATG generated sales of £21.1m in 2017-2018 from its high security vehicle barrier systems, which are used in airports, stadia, railway stations, office developments and shopping centres.
It exports to more than 30 countries, with around 40 per cent of its turnover coming from international markets.
The acquisition of ATG will be funded from the group's existing bank facilities.
It is expected to be earnings enhancing to the group in the first full financial year following acquisition.
The group has also announces that in January it amended and extended its principal debt facility, extending the term to January 2024 and increasing the amount by £50m to around £280m, with no material impact on costs.
It further increases the opportunities for the group to pursue growth opportunities.
