Brand Grows Again With Aluma Deal
01 May 2008
The acquisition-Brand's tenth since 1998-was announced on 23 May and is supported by Brand's private equity owner, JPMorgan Partners. It will add revenues of around $220 million to Brand's existing $347 million business and make it the largest scaffold contractor in North America. It will also give the company a presence outside North America for the first time-Aluma has regional offices in Hong Kong and the UK and alliances in 50 countries worldwide.
Aluma's scaffolding business in the US will be re-branded and integrated with Brand's operation, while the Aluma Systems name will be kept for the scaffolding business in Canada and the international concrete forming and shoring business.
Brand's chief executive officer, Paul Wood, will take control of the newly-acquired business, and a JPMorgan Partners statement said the integration of the two companies would take place over the next three months.
Current president and general manager of the Aluma scaffolding division, Michael Batchelor, becomes Brand's region operating vice president for scaffolding in Canada, and Stephen Tisdall will continue to head the Aluma concrete shoring/forming business.
Mr Wood said; “We are excited about the prospects for our newly-expanded organisation and the market potential we have obtained with this acquisition.”
Brand Services, which was acquired by JPMorgan Partners in 2002, has grown rapidly over the past decade through acquisition and reported revenues of $347 million in 2004. It employs 5500 people and has 54 service centres in the USA and Canada.
Aluma Systems has annual revenues in excess of $218 million, with around 18 scaffold locations in North America and concrete construction.