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Construction firm Lagan Group sold to Breedon for £455m

From BBC - April 17, 2018

The construction firm Lagan Group has been sold to one of the biggest construction firms in the UK for 455m.

Breedon Group said the acquisition would allow it to enter the Irish construction market.

Lagan Group employs 750 people and made a profit of 46m last year.

The Lagan family business was formed in the 1960s but it was broken into two parts several years ago, with brothers Michael and Kevin Lagan going their separate ways.

Analysis: John Campbell, BBC News NI business and economics editor

Breedon has grown rapidly through a series of takeovers, of which the Lagan deal is the biggest to date.

It gives Breedon a significant position in a recovering construction sector on both sides of the Irish border.

Chief Executive Pat Ward described the move as "giving us critical mass... in a very attractive market".

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