Yorkshire-headquartered building firm Triton has acquired Liverpool-based Remstone Construction as it continues its bid to expand in the North West.
Triton has purchased Remstone for an undisclosed sum, and will retain the Remstone Construction brand as part of the deal. The other Remstone Group businesses, covering property and development, are not affected by the deal.
Under its new ownership, Remstone will push on with construction work on sites in south and central Liverpool which will deliver 10,700 sq ft of office space and 123,300 sq ft of industrial in total.
Projects Remstone has previously delivered include industrial units at Spitfire Road, Liverpool; school and college extensions in Woolton, Wythenshawe, and Bootle; and medical centres and clinics in Southport, Rainford, and Liverpool.
The move comes as part of Triton’s ongoing push into the North West, having opened an office in Birchwood Park, Warrington in 2014.
Recent contract wins for the firm include the 92,000 sq ft Big Yellow storage building in Castlefield, Manchester, while the company has also started work on Anglesey’s first Premier Inn at Parc Cybi, Holyhead.
The company reported a turnover of £38.6m and a pre-tax profit of £1.8m in its most recent results, covering the year to 31 March 2017.
Michael Parkinson, managing director of Triton, said the company was hopeful of doubling Remstone Construction’s turnover in 12 months.
“I am pleased to welcome Remstone Construction into the Triton family, they have a sound base for future growth and we are confident that with the invigoration of the construction industry we will double the project turnover of the company within the first year,” he said.
Richard Dears, managing director of Remstone Developments, said the deal would allow the other parts of the business to concentrate on property development.
“Triton have a similar client-focused ethos and energy as our own company, so we’re confident out staff and clients are transferring into very safe hands,” he said.
Remstone currently employs around 27 staff and these will transfer to Triton as part of the deal.