8th Aug 2024 14:40
Hill & Smith PLC - Solihull, West Midlands-based provider of infrastructure products - Buys Trident Industries LLC for up to USD46.0 million in cash, including an initial payment of USD13.5 million and deferred cash of up to USD32.5 million based on Trident's revenue over the next five years. Trident is based in the US state of Illinois, and the existing management team will remain in place. It is a designer and supplier of composite utility poles, serving utilities in North America and the Caribbean. In 2023, Trident reported adjusted earnings of USD5.7 million on USD23.3 million in revenue. "Trident is a business we have known and worked with for many years and is an excellent fit with our existing US composites business," says Hill & Smith Executive Chair Alan Giddins. Read More
