Lagan Group have announced the sale of the materials side of the business to Breedon Group. Lagan Group was formed in Belfast in 1960 by Peter Lagan as a quarrying business, under the leadership of Kevin Lagan the business was grown into a diversified construction business operating in a variety of sectors from roads to runways, construction materials to civil engineering. As of 2017 it employed over 1,000 people with a turnover in excess of £350 million and generated a profit of £46m.
Lagan Homes, which develops over 400 homes per annum in both Northern Ireland and England, and FastHouse, a modular construction business which has the capacity to construct over 800 units per annum, are not included as part of the sale and remain under the sole ownership of Kevin Lagan. These businesses will benefit from further continued investment to allow for managed growth.
With regards to the materials side of the business which has been sold, Kevin Lagan, Chairman of Lagan Group, said:
“I’d like to thank our committed and passionate staff for the role they have played in the growth of Lagan Group and I wish them every success as they enter an exciting new chapter with Breedon, who I am confident will build on that success, supporting the development of the business in the years ahead.”
John Lagan, MD of Lagan Homes England, said:
“We are very proud of the growth and success of the Lagan Group and we welcome the sale of the materials side of the group to Breedon. Lagan Homes will continue to grow and meet our customers’ expectations and we look forward to this exciting new chapter in our business.”