Alumasc acquisition of ARP Group gets CMA clearance

(Sharecast News) - Building products supplier Alumasc has received formal unconditional clearance from the UK Competition and Markets Authority (CMA) for its acquisition of ARP Group, it announced on Friday. The AIM-traded firm said the acquisition, in line with its strategic plan to boost organic growth through earnings-enhancing bolt-on acquisitions, was set to be finalised by the end of December.

Chief executive officer Paul Hooper said the acquisition aligned with the company's strategy to accelerate its organic growth with such acquisitions.

"We are delighted that it has cleared its final regulatory hurdle," he said.

"We are excited about the scaling-up opportunities this transaction brings to both companies and look forward to welcoming the ARP team into Alumasc Group."

At 1400 GMT, shares in the Alumasc Group were up 1.48% at 166p.

Reporting by Josh White for Sharecast.com.