Construction materials specialist GRS has bought back the 23.7% stake in its business held by Tarmac for an undisclosed sum.
The agreement enables the privately-owned firm – which posted 2024/5 revenues of £480m – to accelerate its sustainable aggregates offering, develop its digital materials management platform for major infrastructure, and expand its construction solutions business.
Tarmac’s shareholding in GRS dates back to a minority stake and a number of joint ventures with Lafarge UK which merged with Tarmac in 2013. In the past decade GRS has expanded 10-fold and today operates a broad portfolio of businesses in bulk aggregates, waste and recycling, building products, contracting, freight and logistics, and a range of associated services.
GRS chief executive Jon Fisher commented: “Our long-standing partnership with Tarmac has been mutually beneficial, and our growth strategy has seen GRS transformed both in scale and scope over the past decade. The construction industry has also changed a lot in that time, especially in resource recovery and reuse, and the application of technology to improve circularity, efficiency and customer service. This deal resets our relationship both with Tarmac and with the rest of the industry, allowing us to look forwards and pursue future opportunities with fresh eyes.”
GRS will maintain its aggregate supply agreements with Tarmac and will continue to promote inert waste disposal services in Hertfordshire. GRS Rail Services will continue as a 50:50 joint venture operating railheads in Birmingham, Luton, Northampton, Peterborough and Wellingborough, sites which are key to GRS’s ongoing involvement as the leading aggregates supplier to HS2.
