Equipment dealer Molson Group has acquired a US-based materials processing equipment supplier in its first international transaction.
The Bristol-based company, which has a turnover of £350m, has agreed to buy Powerscreen of California, which operates in the states of California, Hawaii and Nevada.
A key factor in the acquisition is Molson’s Smart Platform, which the company has developed to manage equipment businesses.
Robin Powell, Molson Group Managing Director, said Powerscreen of California and its OEM partner Terex recognize the value of Smart Platform.
He said: “We created this platform to run equipment dealership businesses smoothly and efficiently, allowing small businesses, who might not have the capital to develop their own systems, to access a technology platform that has been developed specifically for equipment companies with all their peculiarities and variants.
“Powerscreen of California wanted to maintain its individuality and way of working, while benefiting from an acquisition by a larger group like Molson: this is possible thanks to our technological platform.”
The company now expects further acquisitions in the US, leveraging the IT platform and launching a new phase of growth for the group.
Paul Campbell, Owner and Director of Powerscreen of California, said, “For nearly 40 years, my company’s reputation has been built on the diligence of our employees and the close relationships with our customers. Molson Group is a highly respected and progressive dealership and there are clear synergies between our organizations. We believe this presents us with a tremendous opportunity to build on our strong heritage.
“I am very excited about the future direction and growth expectations of the business and allow us to maintain the personality and ethos of the business.”
Molson is already an established supplier of Terex products in the UK, and the strategic expansion will further strengthen its relationship.
The Molson Group has several offices across the country, including in Avonmouth, Darlington, Warrington, Stratford and Cambridge.
Details of the advisers who worked on the deal were not disclosed.