12.09.2008

Altrad and Belle to merge

Altrad, the Montpelier, France, based scaffold and concrete equipment manufacturer, has agreed to merge with Belle, the UK based producer of compact equipment.

The Altrad Group was founded in 1984 and has grown consistently through mergers and acquisitions. The largest in terms of the access market was the takeover of Plettac, the German international scaffold producer in 1984, after it had gone into administration. The group has revenues of €419 million with a net profit of €15.7 million.

Belle Holdings known as the Belle Group is based in Buxton, Derbyshire with plants in the UK and Poland, is known for its compaction equipment, cement mixers, concrete finishing equipment and mini dumpers. The company had revenues of £41 million in 2006 with a pre tax profit of £860,000.

Mohed Altrad, chief executive and majority shareholder of Altrad said:” I believe this merger is in line with the long term strategy of Altrad”.

Ron Blackhurst, chairman and the majority shareholder of Belle said: “I am excited about the merger as it will ensure the product development that has been achieved over recent years can be continued and the strategy to become the ideal supplier to the rental customers, retail customers and professional users can be progressed. This will be positive for the employees based at the factories in the UK and Poland and offices around the world.”

The merger is likely to be completed during the first quarter of 2009 and the management teams in the two Groups will remain in place.