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Diversified quarrying group Ennstone has acquired its ninth firm this year, purchasing Waveney Asphalt Company (Waveney) for £3.25 million.

The deal, carried out through Ennstone’s subsidiary Ennstone Johnston, comprises £2.5 million in cash and shares at 25p satisfying the balance.

Waveney is a producer of asphalt from a plant at Beccles in Suffolk and a surfacing contractor. Waveney’s asphalt plant will use aggregates from Ennstone’s Cloud Hill Quarry.

In the year ended 31 March 2007, Waveney had sales of £6.65 million and net assets of £1.65 million.

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