Breedon Group PLC has struck a monumental deal, acquiring U.S.-based Lionmark Construction Companies LLC for $238 million, solidifying its presence in the American construction materials market. The British construction materials titan, which trades on the London Stock Exchange, is betting big on U.S. infrastructure demand as it aggressively expands across the Atlantic.
The deal, which Breedon unveiled Wednesday, will see the FTSE 250-listed company pay $226 million in cash through an existing credit facility, along with an additional $12 million in stock. Lionmark, headquartered in St. Louis, Missouri, has agreed to hold 2.1 million Breedon shares for at least a year. The transaction is set to close by Friday.
A Game-Changer for Breedon’s U.S. Operations
“This acquisition is a landmark moment for Breedon in North America,” CEO Rob Wood said in a statement. “The addition of Lionmark will more than double our U.S. revenue, making our American operations comparable in scale to our Irish division. The move also strengthens our vertically integrated business model while preserving our financial flexibility to pay dividends and pursue further acquisitions.”
