RBP swoops for £13.6m Cemex arm
Burton Russell Building Products (RBP) has bought the building products division of construction giant Cemex UK for £13.6m.
RBP, based in Burton-on-Trent, acquired Russell Roof Tiles after its Surrey-headquartered parent company said it wanted to dispose of all non-core assets to pay off debts.
Russell Roof Tiles manufactures cement roof tiles and employs 100 staff at its two plants in Burton-upon-Trent and Lockerbie.
RBP’s investors are head-quartered in Mexico and said they now want to expand operations, in particular within the UK and the US.
The Birmingham office of accountancy firm PKF advised RBP on the deal.
Jeff Harris, partner at PKF, said: "This is a savvy acquisition by RBP that represents its first foray into the UK and demonstrates its confidence in the long-term prospects of the housing market. The company has an exciting future and is about to begin a major upgrade to its main tile production line.
"The deal secures the future of the Russell Roof Tiles plants in Burton-upon-Trent and Lockerbie. RBP plans to continue to invest in both locations and this will hopefully create more jobs in due course."
