A North East construction has revealed it has been considering significant growth deals after a Canadian investment group took a major stake in the company.
Prestwick-based Northern Bear has issued a trading update in which it said that it had mulled “two potentially accretive acquisitions of a more substantial size than those we have made previously” as part of a strategy led by new chairman Jeff Baryshnik. Neither deal came to fruition, however.
Mr Baryshnik’s Cedarvale Holdings group took a near 30% stake in Northern Bear in 2019 for almost £4m and he became chairman in 2021, starting a review the group’s strategy on capital allocation.
