Marshalls plc has
announced that it has acquired CPM Group, a company that specialises in
underground water management solutions.
CPM manufactures and
sells a wide range of concrete pipes, containment chambers and other concrete
infrastructure products.
The company turned
over £51m in 2016 and employs approximately 350 people, mainly at its
manufacturing sites at Mells, Somerset and Pollington, East Yorkshire.
From today, CPM
Group will trade as Marshalls CPM, and for the foreseeable future will continue
to run as a standalone business.
Water Management has
long been a strategic focus area for Marshalls, and it plays a key role in the
company’s future vision.
Marshalls’ group
Finance Director, Jack Clarke, said: “We firmly believe that the addition of
CPM’s new products will accelerate our progress towards reaching our vision,
and enable us to offer our customers new products that expand our existing
Water Management offering.
“We believe there is
a good fit, both economically and culturally, between CPM and the Marshalls
group, and that this transaction will be for the benefit of all our employees.”
Mike Stacey,
managing Director at CPM Group said: “We are thrilled to be a part of the
Marshalls Group of businesses, and I know I speak on behalf of the rest of the
senior leadership team that we are all looking forward to the future.
“Marshalls and CPM
both have a reputation for quality and innovation. By combining the strengths
of Marshalls and CPM, we expect there to be opportunities for our companies to
accelerate profitable sales growth and extend access to new customers and markets.”
