Hill & Smith Holdings PLC, the infrastructure, building and construction products group, announced back in February that it had agreed terms to buy the galvanizing business of the Metnor Group, subject to regulatory (OFT) approval and detailed due diligence. 

The Office of Fair Trading has now announced that the proposed purchase has the required regulatory approval; accordingly Hill & Smith will now proceed with the purchase, subject to carrying out its due diligence.

Metnor Galvanizing operates from a well equipped site in Chesterfield, Derbyshire, and benefits from having one of the largest galvanizing baths in the UK.  The annual turnover of the business is £10m and the Derbyshire plant employs circa 100 people. 

Hill & Smith Holdings PLC’s products include safety barriers, wire rope barriers, street lighting columns and a whole range of other infrastructure and building products.

The group’s most recent annual results, published in March for the year ended 31 December 2005, showed record profits for that year, with pre tax profits up by 55.4 per cent to £15.7m.  Broker Arden Partners is predicting a further improvement in pre tax profits to £17.5m in 2006.

Further information

Freshwater UK PLC
Edward Carter 0121 633 7775
Anna McNeil 0121 633 7775