Orbis Finalise Sale of CPM Group to Marshalls Plc

BUSINESS OVERVIEW

Birmingham-based Orbis Partners have finalised the sale of precast concrete products manufacturer, CPM Group (CPM) to hard landscaping manufacturer, Marshalls Plc for an enterprise value of £48m.

CPM Group is a market leader in the supply, manufacture and design of concrete drainage products for the construction industry. Their product portfolio includes concrete pipes, containment and inspection chambers, retaining walls and other bespoke industrial concrete products. Established in 2004, CPM is headquartered in Somerset with technical centres based in Wombourne and Leek with major production facilities in Frome and Pollington. The business has worked on major infrastructure projects such as Hinkley Point A, HS2 and A14 Cambridge and has a reported revenue of £51.2m and pre-tax profit of £4.6m in the financial year ended December 2016.

Established in the 1890s, Marshalls is a complete concrete external hard landscaping, paving and flooring products business. With over 2,000 employees, the business supplies superior natural stone and innovative concrete products to the construction, home improvement and landscape markets across the UK.

The team at Orbis worked closely with shareholders and added significant value in shaping and delivering the final deal. Their considered and commercial approach enabled the transaction to hit a very tight timetable and delivered a great result for all stakeholders.

Alan Hampton, Director

CPM is a profitable business with a strong track record of quality and service, primarily targeting public sector and commercial end users and the acquisition will expand Marshalls’ product range into below ground drainage.

Martyn Coffey, Chief Executive of Marshalls

The business is expected to trade, initially as Marshalls CPM, within the wider Marshalls Group. Mike Stacey, former managing director of CPM, will remain in the business and will join Marshalls’ senior management team, reporting to Martyn Coffey.

The Orbis team was led by James Grenfell and Simon Lloydbottom with support from Steph Mersh. Legal advice to CPM was provided by Andrew Stilton at Keystone Law.