Hill & Smith buys US business
Transport infrastructure group Hill & Smith has completed its acquisition of Texas-based Enduro Composites for £28.7 million from private shareholders including the management team.
Enduro, designs, manufacturers and supplies engineered composite solutions in the industrial and infrastructure sectors.
It will merge into Hill & Smith’s engineered solutions division.
Solihull-based Hill & Smith includes barriers business Hill & Smith Infrastructure at Springvale Business Park, Bilston.
The acquisition has been made on a debt and cash free basis, and will be funded from the Hill & Smith’s existing banking facilities.
Alan Giddins, executive chairman of Hill & Smith, said: “The acquisition of Enduro is in line with our strategy to undertake disciplined mergers and acquisitions that is aligned to our focus on niche markets with excellent long term growth potential.
“The acquisition of Enduro will further develop our product offering and expand our geographical coverage in the highly attractive composites market.
"I am delighted to welcome Enduro and its employees to the group."
