Terraco Group, the leading producer of environmentally friendly finishing materials, acquires 100% of Addagrip Surface Treatments UK Ltd, for an undisclosed sum.
Göran Widström, Chairman - Terraco Group, said, “We think Terraco and Addagrip make a compelling fit and are delighted to welcome the talented staff and employees of Addagrip to the Terraco family. This acquisition will not only broaden our product range but will also open up new markets for our existing range. We look forward to further developing and building upon Addagrip’s sterling track-record as a preeminent supplier of high quality resin bound surfacing systems in the UK and abroad.”
Richard Cottingham, Chairman - Addagrip, said, “I am happy to announce the acquisition of Addagrip, a company I founded over 30 years ago, by Terraco Group. Terraco’s culture is very similar to Addagrip’s and I am sure this transaction will benefit all stakeholders in the company, including employees and customers.”
Roger Critchley, Managing Director - Addagrip, said, “We look forward to working with Göran and his team to bring Addagrip’s products to international markets and to being able to offer more of Terraco’s broad range of products to UK customers.”
Terraco Group, founded in 1980, is a leading producer of environmentally friendly finishing materials with 750+ products and 18 factories.
Addagrip, based in Uckfield, East Sussex and also founded in 1980, is a leading UK producer of resin bound surfacing products, with brands such as Addastone and Addaset. Addagrip sells a range of high quality external surfacing, internal flooring, industrial flooring as well as the Addagrip 1000 System airfield pavement concrete protection system.
Addagrip’s Chairman, Richard Cottingham, will continue as an advisor as part of the deal and will be replaced as Chairman on the Board of Directors by Göran Widström. Addagrip’s Managing Director, Roger Critchley, will continue to lead the Addagrip team. There are no anticipated staff changes as a result of the transaction.