IKO is set to complete the acquisition of Bolton-based Pure Asphalt Company.
The shares are to be purchased subject to regulatory clearance, with completion expected within three months.
Group managing director Andy Williamson (pictured) said: “The acquisition is part of IKO’s continued expansion strategy and commitment to the UK construction industry. It will add to capacity and employment prospects across the group.”
IKO appointed Mazars LLP as financial due diligence providers and national law firm Weightmans LLP as the legal advisors for this acquisition.
Paul Raftery, Weightmans corporate partner in Manchester, adds: “It was a pleasure to work with Andy and his team and I have every expectation that Pure Asphalt will prove to be an excellent addition to the IKO group.”