Welsh quarrying and haulage group GD Harries (GDH) is to be sold to construction materials company SigmaRoc.
GDH is one the largest independent suppliers of aggregates in Wales, operating out of four depots with an O-licence authorising a total of 75 HGVs and 25 trailers.
SigmaRoc said it had acquired a 40% equity interest in GDH and intends to acquire the remaining 60% by mid-2020.
Ian Harries, GDH chairman, said the investment would allow GDH to grow and create job opportunities.
“Having been approached by several companies to buy the business, SigmaRoc was the only one we engaged with directly.
"[This was] due to their business ethos and commitment to our workforce which has over the years been a key factor in driving the business forward,” he said.
Max Vermorken, CEO at SigmaRoc, said: “I am extremely proud of what our small team has been able to achieve within only a short space of time.
"With GDH as part of the group, we will operate nearly a dozen quarries, 100 million tonnes of reserves and resources, close to 500 people employed, with significant skill, drive and enthusiasm within the various management teams.”
GDH achieved an averaged annual turnover revenues of £23.4m for the years ending 31 December 2015, 2016 and 2017.
SigmaRoc added that it intended to preserve local employment.
