GRS Group buys S Walsh and Sons for undisclosed sum

GRS Group has acquired construction and waste materials haulier S Walsh & Sons for an undisclosed sum.

The London based haulier, which runs a 100-strong fleet of tippers and trucks and employs 175 staff, specialises in the removal, haulage, handling and recycling of construction and waste materials.

The company is currently working on a number of the capital’s major infrastructure projects including Battersea Power Station, the Thames Tideway Tunnel, HS2 and the Kings Cross redevelopment.

Announcing the acquisition GRS Group, which is the UK’s largest independent construction aggregate trader and handler, said the deal was mutually beneficial, providing GRS with access to key strategic locations in London for the import and export of bulk materials, whilst giving Walsh access to GRS’ nationwide customer base, supply partners and facilities for construction waste.

GRS chief executive Jon Fisher added: “The two businesses have worked together on many projects and in recent years we’ve built a much closer working relationship. The Walsh team has a wealth of operational, commercial and technical expertise across a range of services to construction, waste and quarrying companies.

“More important is that Walsh has a similar customer-led, can-do attitude as we have in GRS, so I’m confident we’ll work well together. Acquiring Walsh expands the GRS portfolio with a market-leading range of joined-up services and sustainable solutions for the construction industry. It’s another example of putting our strategy into action to achieve our vision.”

The acquisition takes the total number of GRS employees beyond 800. The two businesses will operate more than 50 sites and are expected to handle over 20 million tonnes of construction aggregate and other materials each year.

Walsh will continue to operate as a standalone business, and Walsh directors Nick Walsh, Westley Pickup, Richard Walsh and Tim Wheeler will continue to operate the business day-to-day.

Nick Walsh said the deal was "win-win".

He added: "We’re very proud of the reputation Walsh has built up over the years – that’s a testament to the brilliant team we have working for us. The decision to sell has not been taken lightly, but teaming up with a business as ambitious as GRS is a natural step to take the company on to the next stage in its development.”

In its latest annual results to 31 May 2017 S. Walsh & Sons reported an 8% rise in turnover to £43.3m (2016: £40.1m) whilst pre-tax profits soared by 38% to £4.3m (2016: £3.1m).

Tipping and haulage provided the lion’s share of annual turnover at £28.1m (2016: £23.7m) with aggregates rising to £3m (2016: ££2.2m) whilst civil engineering turnover fell to £12m (2016: ££14.3m).

In its strategic report to the results the company attributed its rise in turnover to its involvement in major contracts such as the Battersea Power Station project and said it had a “robust pipeline of projects” to take the company into 2018.