GERMAN roller specialist Bomag is to become part of French diverse construction giant Groupe Fayat, following the £242 million agreed sale by its US parent company SPX.
Fayat, a £790 million turnover firm with 75 different companies in its group, has a 12-brand road equipment division, ranging from asphalt plants to pavers, including Marini, which has a manufacturing base in County Durham.
The sale, four years after SPX acquired Bomag along with its-then parent company United Dominion for £1.3 billion, comes after the US conglomerate decided that construction plant was outside its core high-tech business.The Bomag range of road rollers, concrete compaction equipment and refuse compactors will fill the last gap in Fayat's product line.
Bomag's forecast turnover this year of £265 million will more than double turnover at the £126 million division.
Caterpillar and investor 3i were amongst those reported to be among the bidders.