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Corporate Finance advise Heidelberg Materials UK on its acquisition of the Mick George Group

23 May 2024


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Our Corporate Finance team are pleased to announce their role as corporate finance adviser to Heidelberg Materials UK ("Heidelberg Materials") on its acquisition of the Mick George Group (“Mick George”).

Hanson was founded in 1964 and with its strategy of growth through acquisition have become the leading supplier of low carbon heavy building materials for the construction industry. They are now part of Heidelberg Materials, one of the largest building materials manufacturers in the world.

Mick George is a market-leading construction and demolition waste recycler based in East Anglia and the East Midlands. They have an annual revenue of approximately £220 million and operate more than 40 sites in the UK including major recycling facilities, aggregates quarries and ready-mixed concrete plants. Mick George specialises in bulk excavation and earthmoving services, demolition, and environmentally sensitive waste removal, complemented by waste management services as well as aggregates and concrete supply. 

Since December 2022, the Competition and Market Authority (“CMA”) have been looking into whether the merger of Heidelberg Materials and Mick George would raise concerns in certain markets in the East of England and the East Midlands. A divestment  proposal to offload parts of the business in key areas to Essex-based Brice Aggregates and Peterborough-based P J Thory has now been agreed and allowed the acquisition to move forward. CEO of Heidelberg Materials UK, Simon Willis confirmed: “The acquisition of the Mick George Group is a strong fit for us and another significant step towards our target to offer circular alternatives for half of our concrete products by 2030.”

The team at James Cowper Kreston was led by Brad McAvoy and Nikul Patel. Brad commented “We were delighted to work with the team at Heidelberg Materials and support them on their journey to achieve Net Zero status through the acquisition of Mick George.”

Ricky Thomas, Head of Corporate Finance at Heidelberg Materials UK, commented “The James Cowper Kreston team provided regular insight and were responsive throughout the transaction process providing both commercial and technical financial advice."