02.10.2013

Altrad acquires TRAD Group

French scaffold and formwork group Altrad has acquired the UK Trad Group of Scaffolding companies. Trad is a London-based scaffold contracting business as well as a sales and rental supplier of non-mechanical access equipment, scaffolding, system scaffolding and fall prevention products. The deal was concluded on Monday for an undisclosed sum.

Trad employs around 450 and has revenues of around £45 million, it will continue to operate from its current locations with Hayden Smith as chairman, Des Moore as managing director and Alan Skeats as financial director remaining on board.

“Opportunities have been numerous over the years to sell Trad but were never seriously considered, as it would have led to changes in our successful management team followed by the loss of our long established and well respected identity,” said Hayden Smith. “The Altrad Group offer made it very clear that they wanted the group but were very insistent that the team stayed intact long term to continue with our successful strategy of providing quality service and materials which is instrumental in both client satisfaction and retention.”

“I am very impressed on this focus by the Altrad Group and my team and I are all very motivated going forward to continue our profitable growth with the knowledge that we have the full support of not only a major manufacturer of access products but a successful group with the same ethos which creates success."

“This acquisition forms part of the bigger plan to provide the large UK market with products and services from Altrad which specialises in the manufacturing and sales of scaffolding, cement mixers and wheelbarrows, together with providing additional contracting services in the scaffolding sector,” said Ray Neilson managing director of Altrad Belle UK who has been assisting on the acquisitions.

Altrad now has more than 80 companies with the majority being located in Europe. The company is 78 percent privately owned by Mohed Altrad, with the balance of shares being split between Synergie Finance (Arkéa Group), CM CIC Capital Finance, the French sovereign Fund FSI (Fonds Stratégique d'Investissement) and BNP Paribas Développement. It is headquartered in Montpellier in the south of France.