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Travis Perkins predicts more industry mergers and acquisitions

Chief-exec thinks there will be more takeovers in the building materials sector

04 June 2010

The building materials sector is expected to be the subject of more mergers and acquisitions, according to experts.

Geoff Cooper, chief executive of Travis Perkins, predicts that more takeovers are likely to occur in the industry as the economic conditions are ideal for 'consolidation', reports building.co.uk.

He told the website: "We haven't seen a move towards consolidation yet, but it would be quite normal to see consolidation in an industry as it recovers from recession."

Builders' merchant Travis Perkins is planning to maker a formal £553 million offer for plumbing specialist BSS within the next month.

BSS currently has a turnover of around £1.4 billion having significantly boosted profits in the past six months.

This turnaround in fortune could leave many shareholders puzzled at the relatively low sale price, while a vote on the deal will be held in around three months.

The proposed move will help create the largest plumbing and heating trade and retail distribution business in the UK.

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