LONDON: Breedon Group, a leading construction materials group in Great Britain and Ireland, has today acquired Roadway Civil Engineering & Surfacing Ltd (Roadway), an integrated asphalt production and contract surfacing business in North Wales, for a total consideration of up to £13.5 million. Roadway is a family-run business based in Llay near Wrexham. Founded in 2000, it specialises in local authority term maintenance, minor road maintenance schemes and associated civil engineering works. The purchase of the business coincides with the opening of a new asphalt plant on its Wrexham site. Key management will remain with the business. The total consideration, subject to completion adjustments, comprises £10.8 million payable in cash on completion, together with up to £2.7 million of deferred consideration payable in cash on performance over the next five years. In the year to 31 July 2018 - prior to the introduction of its new asphalt production capability - Roadway reported underlying EBITDA of £1.3 million and profit before tax of £1.3 million on revenues of £5.1 million. Mike Pearce, managing director of Breedon Southern, commented: "This acquisition significantly strengthens our contract surfacing operations and establishes Breedon as a fully integrated business in North Wales. "The Wrexham plant will expand our asphalt capacity in the region, complementing our units at Dowlow, Minffordd and Leaton, and enable us to offer a full asphalt supply and lay service throughout North Wales, Shropshire, Cheshire and Merseyside. Roadway also provides an additional route to market for aggregates from our quarries at Minffordd, Borras, Denbigh and Leaton. "We are particularly pleased that Roadway's management team has committed to remain with the business." Pat Ward, Breedon's group chief executive, added: "This is a further step in our regional expansion, acquiring an integrated asphalt and contract surfacing business in an area of the UK where we have been seeking to strengthen our presence for some time. It demonstrates our consistent ability to secure value-enhancing acquisitions and we remain confident of being able to continue adding value in this way."