BPE Solicitors are proud to announce they acted for construction aggregates firm Allstone on a multimillion-pound deal to acquire concrete suppliers, Monster Mix.
Based on Gloucester’s Eastern Avenue, Monster Mix’s team now join the existing payroll of 90 Allstone staff operating from its Myers Road HQ. The move means Allstone’s aggregates, familiar Speedy Skips service, and Monster Mix’s fleet now come under the direction of the same parent company – Allstone Holdings.
Simon Ford, Allstone’s owner and CEO, said: “In terms of vertical integration, this move made excellent sense: Monster Mix are a thriving volumetric, drum-mix and concrete pumping business. Bringing the two companies together presents an exciting range of opportunities, all of which will make the two entities stronger together.”
Key to the relationship, Monster Mix owner and founder Paul Hopson will stay with the business, retaining shareholding, while Allstone gains a majority and controlling interest. Revenues for the combined operation are forecast to exceed £20m.
Laurence Twiselton, Partner at BPE commented: “It was fantastic to work with Rowan and Allstone Finance Director Mebin Chacko. BPE are proud to have supported Allstone in acquiring this key strategic business. We’re looking forward to working with them in the future as they continue to grow.”
Laurence was supported by fellow members of the Corporate and Commercial team at BPE: Simon Gale (Partner), Joley Croft (Associate) and Jasmine Bailey (Trainee Solicitor), as well as Commercial Property’s Thomas Christie (Senior Associate) and Employment’s Emily Arnold (Associate).
Phil Redgate and the team from Bishop Fleming provided advisory services including financial and tax due diligence to Allstone on the acquisition. Phil stated: “We’re proud to have supported this milestone acquisition for the group, further reinforcing Allstone’s leading position in the construction materials market across Gloucestershire and the wider region.”
The Bishop Fleming team advising on the project included Charles Davey (Corporate Finance Partner), George Preece (Corporate Finance Manager), Linda Simmonds (Tax Director) and Hannah Thorogood (Tax Manager).
Rowan Elliott, Allstone Managing Director, said: “Having instigated and led this initiative for 12 months, I’m thrilled to see it come to fruition. There were so many underlying business synergies, marking this expansion out as a natural option: beyond an overlapping customer base, we’re now proud to say that as one company we can provide sustainable raw materials, waste management services and concrete products for our customers. Looking ahead, we have a planned growth strategy very much focused on supplying local and regional sustainable construction products. Laurence and the team at BPE were brilliant in acting for us during this acquisition. They are efficient and knowledgeable, which helped us to feel confident through the entire process.”
