SWARCO continues expansion with HITEX acquisition
ITS (UK) member SWARCO has bought the family-owned business HITEX Holdings Ltd, which works in road safety, road markings and marking vehicles and machinery.
The HITEX brands consist HITEX Traffic Safety, L&R Roadlines and Somerford Equipment).
“With the HITEX acquisition, we follow our course of seeking market opportunities with companies that are a good fit for us by having strong know-how in their field, a good market penetration, a high reputation, and the background of a family ownership with a corporate culture similar to ours,” commented SWARCO Speaker of the Board and COO Michael Schuch. “The HITEX companies will give us direct access to the road marking systems sector in the UK, helping us to gain a significant market share by introducing our five-decade long expertise in road safety materials.”
HITEX was owned by four members of the Lloyd family who were looking for an appropriate successor to continue the successful course of the road safety provider. “We are happy to have found with SWARCO a family-owned business with a strong know-how in the production of glass beads, road marking materials and the application of line markings”, says Geoff Lloyd. “My family and I are convinced that SWARCO will be a good new home for HITEX and its staff, offering growth potential and continuity for our life’s work.”
Harald Mosböck, SWARCO’s Vice President for Road Marking Systems in Europe and the APMEA regions, sees great potential in developing road safety with high performance road markings in Europe’s second largest economy. “The HITEX Group is very well established in the UK road safety sector and will open the market for SWARCO’s top products such as SWARCO SOLIDPLUS beads and 2-component MMA systems. Together we will be able to offer a new level of high performance road marking systems and give a boost to the driving quality and safety on Britain’s road network.”
The HITEX Group employs a total staff of 130 and generates annual revenues of roughly £23 million.
Last month SWARCO bought Dynniq Mobility.
(Picture – Transaction closed in Liverpool on 25 Oct 2021: SWARCO COO Michael Schuch (front row, left), Geoff Lloyd (2nd from left) and Harald Mosböck (2nd from right) with further members of the Lloyd family, senior SWARCO managers and local solicitors)