One of the UK’s biggest independent plant and machinery suppliers has completed its first international acquisition.
Bristol-based Molson Group has bought US equipment dealers Powerscreen of California for an undisclosed amount.
The company, which employs around 300 people at its headquarters on Smoke Lane in Avonmouth, said the move would provide “significant growth opportunities.”
Molson Group said its new tech platform, which it has developed specifically to help run smaller equipment businesses, had been a “key factor” in the deal.
The group’s Robin Powell said: “We created this platform to run equipment dealer businesses smoothly and efficiently, allowing smaller businesses, who would not have the capital to develop their own systems, access to a tech platform that has been developed specifically for equipment businesses with all their peculiarities and variations.
“Powerscreen of California was keen to maintain its individuality and way of working, whilst benefiting from acquisition by a larger group like Molson – this is possible because of our technology platform.”
Molson – a £350m turnover business – said it was expecting to make further US acquisitions, leveraging the IT platform, and launching “a new phase of growth” for the group.
Bosses at Powerscreen of California, which also operates in Hawaii and Nevada, said they were “excited” by the opportunity for growth and expanded resources the deal could bring, while allowing the organisation to maintain its “business personality and ethos.”
Paul Campbell, owner and director of Powerscreen of California, said: “For almost 40 years, my company’s reputation has been built on the diligence of our people and close relationships with our customers.
“Molson Group is a highly respected and progressive dealership and there are clear synergies between our organisations. We believe this presents us with a tremendous opportunity to build upon our strong legacy.”
Molson added the deal would further strengthen its relationship with Powerscreen of California’s equipment partner Terex, with the firm already a UK supplier of the manufacturing giant’s products.
Terex Materials Processing president Kieran Hegarty added: “Synergies within the existing Molson organisation will provide the depth required to consolidate the excellent growth experienced by Powerscreen of California in recent years and will guarantee industry leading customer support.”
Like this story? Why not sign up to get the latest South West business news straight to your inbox.