Construction materials specialist GRS has acquired the 23.7 per cent stake in its business held by Tarmac, ending a long-standing shareholding arrangement for an undisclosed sum.<\/p>\n
The buyout returns the company to full private ownership and will support expansion of its sustainable aggregates portfolio, digital materials platform and construction solutions offer.<\/p>\n
GRS posted a revenue of \u00a3480m for the 2024\/25 financial year.<\/p>\n
Tarmac originally gained a stake in the firm through a series of joint ventures with Lafarge UK. That relationship continued after the 2013 merger of Lafarge and Tarmac.<\/p>\n
GRS has grown tenfold over the past decade and now operates across bulk aggregates, waste and recycling, building products, contracting, freight and logistics, and other associated services.<\/p>\n
Jon Fisher, chief executive of GRS, said: \u201cOur long-standing partnership with Tarmac has been mutually beneficial, and our growth strategy has seen GRS transformed both in scale and scope over the past decade.<\/p>\n
\u201cThe construction industry has also changed a lot in that time, especially in resource recovery and reuse, and the application of technology to improve circularity, efficiency and customer service.<\/p>\n
\u201cThis deal resets our relationship both with Tarmac and with the rest of the industry, allowing us to look forwards and pursue future opportunities with fresh eyes.\u201d<\/p>\n
GRS will retain its aggregate supply agreements with Tarmac and continue to promote inert waste disposal services in Hertfordshire.<\/p>\n
GRS Rail Services, its 50:50 joint venture with Tarmac, will continue operating railheads in Birmingham, Luton, Northampton, Peterborough and Wellingborough.<\/p>\n
The sites support GRS\u2019s role as a leading aggregates supplier to High Speed 2.<\/p>\n
The deal is the second disposal by Tarmac within the construction sector this year.<\/p>\n