Deal takes it to the Max!

A CONSTRUCTION technology specialist has bought two rivals in a deal which will increase its turnover by £2 million.

Max Frank Ltd bought Warrington-based Weldgrip Groundwork and Stafford-based Shearail from Acertec Construction Products, for a package worth £750,000.

Max Frank, which is based in Meir, has now closed the Warrington site and integrated both firms at its Whittle Road premises.

Weldgrip produces a "permanent formwork system" called Meshform – a flexible steel and plastic sheet used to make laying curved and shaped concrete foundations easier.

Managing director Mark Aldred said the deal would boost the company's sales, as well as increasing its customer base and product range.

He declined to reveal Max Frank's total turnover, but described the £2 million boost as a "significant" increase.

Mr Aldred said: "Buying out our main competitor Weldgrip Groundwork means that we're now firmly established as the UK's largest provider of permanent formwork systems.

"The Shearail product is a fast fixing solution for multi-storey concrete construction and one that's enjoying substantial growth."

He added: "The acquisitions are going to allow us to significantly grow our turnover, adding an extra £2 million to the top line."

Max Frank, which employs about 40 people in Stoke-on-Trent, manufactures a range of products for construction engineers and contractors, including reinforced concrete products, sealing systems and sound-proofing systems.

Its group headquarters is in Germany and it has divisions all over the world, in countries including Austria, Canada and the United Arab Emirates.

The Stoke-on-Trent division was set up in 2008 and Mr Aldred said the firm has enjoyed good growth, despite the well-documented downturn in the construction sector.

Weldgrip Groundwork and Shearail previously employed about 20 people in total, some of which have transferred to Max Frank.

Festival Park-based accountants Mitten Clarke provided corporate finance advice on the deal, while Newcastle solicitors Knights provided legal advice.

Tim Virgo, of Mitten Clarke, said: "Negotiating and project managing the two deals certainly had its challenges but it has been very rewarding."