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Rand buys into southern road planing

FINANCE

LINCOLNSHIRE-based civils outfit Rand has bought Associated Asphalt's road planing operation for an undisclosed fee.

Rand already has one of the UK's largest road planing operations, NRP, and its £3.5 million-turnover acquisition will be merged with this £8.5 million-turnover business.

Jonathan Wells, chief executive of £45 million-turnover Rand, said: 'It's a strategic move to give us more exposure in the south.

'NRP operates out of Lincolnshire, Devon and the Midlands and we've picked up work around the M25 but have no base in the south-east.

'We've got plans to grow the business but not in huge volumes, as it's a limited market.'

Associated Asphalt's planing business, which has 32 staff and eight planing machines, operates out of a depot at Henleyon-Thames.