MANUFACTURING group Hill & Smith has acquired a street lighting and road sign business with a base in Winsford in a £12.5 million deal.
Signature was a subsidiary of Plastic Omnium and specialises in the production, installation and management of road signs, street lighting and traffic management systems.
Headquartered in Oldbury, Signature also has offices in Winsford and Glasgow.
Hill & Smith will fund the deal from its existing bank facilities. The addition of Signature, which turned over £14.8 million in the year to December 31 2015, is expected to be earnings enhancing in the first full financial year following the acquisition.
Hill & Smith's group chief executive Derek Muir said: "Signature has an excellent range of long established products which will complement our existing product offering into the UK roads market."
News of the deal comes as Hill & Smith posted a hike in half-year revenue and pre-tax profit.
In the six months to June 30 2016, the business turned over £259.3 million, up from £467.5 million a year earlier.
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