SRC Group acquire Allen Newport Ltd
Essex-based SRC Group expand their coverage into Cambridgeshire, Norfolk and Suffolk
ALLEN Newport Ltd – long-established suppliers of aggregates principally into Cambridgeshire, Norfolk and Suffolk – have been acquired by Essex-based SRC Group, cementing their presence in East Anglia and providing a significant new regional platform from which sand and gravel products, recycled aggregates and innovative waste services can be delivered.
Following a seamless transition, SRC will operate the long-standing Allen Newport Ltd quarry facility as SRC Cavenham. With existing customers already operating within the local marketplace SRC, will be able to offer a more comprehensive service to those businesses and begin building new relationships further afield than they have been able to in the past.
The site in Suffolk will undergo upgrades to infrastructure, production and operating systems, in line with SRC Group’s ‘Vision 2030’.
Richard Stevens (pictured right), managing director of Allen Newport Ltd, said: ‘I am delighted to be handing over the reins to SRC. As a family-owned business, they hold very much the same values that we have adopted for so many years.
‘Allen Newport Ltd were founded by my grandparents nearly 90 years ago in 1934, and having taken the business this far, we now look forward to seeing how the company develops and grows over the coming months and years. We wish Ollie and his team every success.’
Allen Newport Ltd were advised and supported through the acquisition process by Wilkes Partnership LLP, based in Birmingham, whose senior partner, Gareth O’Hara, said: ‘We are seeing a number of family-owned quarries being sold to larger groups and this was another of those – a very well-run business by Richard and his employees that I am sure will be a credit to SRC and their existing businesses.’
SRC Group offer a range of heavy constructions materials and services across the South East and London, including aggregates, ready-mixed concrete, block production, waste management, earthworks and demolition.
Oliver Rees (pictured left), managing director of SRC Group, said: ‘We have been working hard on the development of our vibrant and progressive business and the acquisition of Allen Newport gives us a much-needed extended area of coverage in a market set to only get busier. Thank you to Richard and his team for welcoming us and we look forward to working with all customers and stakeholders as we begin our new journey in the life of the quarry.’
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