Already a major presence in the region, Parex produces renders and façade systems, technical mortars, hard landscaping mortars and commercial tiling products.

Wishaw-based Enewall will continue to trade under its current identity and will also be marketing the combined portfolio of its own and Parex product in Scotland. The current Enewall workforce of 50 will be retained, as will the company’s manufacturing operations in Scotland.

Parex, already a £25 million a year UK operation, will look to expand its presence north of the border over coming years.

Enewall is currently Scotland’s largest manufacturer and supplier of premix render, insulated façade systems and aggregates and has an established network of stockists across Scotland.

Parex, meanwhile, is one of the largest manufacturers and distributors of renders and specialist mortars covering England and Wales and is part of the international €1 billion Parex Group which operates throughout Europe and globally.

Mark Shorrock, managing director of Parex UK, described the acquisition of Enewall as a “perfect fit” with the company’s current business.

“We already have a strong foothold in Scotland and the two businesses together will create the major force in the Scottish market for renders and associated products. Going forward we have plans to develop the business further so that we can fully realise the market potential there,” he said.

Mark added: “This deal marks the next big step in the growth of the Parex brand and activities in the UK construction market. Through small acquisitions and strong organic growth we have grown from a £2m business in 2002 to an organisation projecting a turnover in excess of £33m over the coming year.”