Clearwater International has advised leading infrastructure services company FM Conway, on its acquisition of United Asphalt.
United Asphalt operates two asphalt plants, Theale in Berkshire and Croydon, together with a recycling depot at Coltrop, Berkshire.
The Theale plant is rail fed and completes the company’s aspirations of having a rail facility in the west of London. Theale also allows cover further west along the M4 corridor. They both have 24 hour operations. Coltrop is seven miles away from Theale and produces recycled materials. The locations of Coltrop and Theale complement FM Conway’s recent acquisition of Berkshire Macadam and provide a stepping stone into the south west of England.
FM Conway said the acquisition was an exciting development for the business, giving the business a much wider market spread for all divisions within the organisation. Michael Conway, CEO of FM Conway, said that the United Asphalt acquisition would support the company’s growth in key markets:
“This is an extremely exciting acquisition for us, which supports our self-delivery model and puts us into an excellent position to provide high-quality products on demand for our customers on both the strategic and local road networks.”
Through its self-delivery model, FM Conway offers a comprehensive service across the entire lifecycle of a project, from production and design to construction and maintenance. The model ensures that in-house expertise is available across the breadth of the company’s services and results in higher standards, lower costs, and more efficient delivery for clients.
The Clearwater International team was led by Partners Chris Smith, Jon Hustler, and Robert Britton, with support from Senior Associate Daniel Rossington.
Chris Smith, Partner, Clearwater International commented: “This transaction enables FM Conway to enhance its position within the market and utilise the expertise of this business. With its in-house model, FM Conway is able to offer a wide spectrum of services from start to finish and now with further opportunity to increase its customer base.”