Construction materials distributor GRS Roadstone Group has bought back the 23.7% stake in its business held by Tarmac for an undisclosed sum.
Tarmac鈥檚 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, originally Galliford Road Stone, was formed after a management buy-out from contractor Galliford in 1997, three years before the Galliford-Try merger. In the year to 31st January 2025 it posted revenues of 拢480m, with pre-tax profit of 拢3.0m, down from 拢9.2m the previous year.
Chief executive and major shareholder Jon Fisher said of the Tarmac buyout: 鈥淥ur 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.鈥�
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鈥檚 involvement as an aggregates supplier to HS2.
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