National group invests £3.1m in London mixed-concrete joint venture

The Southern division of a national construction materials firm has announced a new joint venture with a London concrete specialist.

Breedon Southern Limited has joined forces with Robert Brett & Sons Limited to bolster its existing ready-mixed concrete operation in London, Capital Concrete.

Breedon will contribute its plants in Cricklewood, Feltham and Enfield to the venture, together with £3.1m in cash, in return for a 43 per cent interest in the firm.

Capital Concrete already operates seven ready-mixed concrete plants in Bow, Croydon, Romford, Rainham, Wembley, Silvertown and Staines.

Pat Ward, group chief executive of Breedon, commented: “We have had a longstanding ambition to expand our footprint in the UK’s largest construction materials market.

“This joint venture enables us to secure immediate critical mass in Greater London, in collaboration with an experienced local partner, with the potential to develop a business of significant scale in the capital over the next few years.

“We are very much looking forward to working with the outstanding management team in Capital Concrete and this also gives us a great opportunity to strengthen our relationship with [Robert Brett & Sons Limited].”