M&A

Morris & Spottiswood has acquired part of the former construction firm ISG, saving 111 jobs. The Glasgow-headquartered company announced it purchased fit-out business ISG Cathedral. The value of the acquisition has not yet been disclosed. The firm was originally an independent retail fit-out specialist called Cathedral Contracts, before its buyout…

An overseas developer is set to buy a stake in JRL, the company has revealed.  JRL has declined to name the buyer but confirmed to Construction News that a deal had been agreed for the investor to acquire a non-controlling stake in the company.  JRL was ranked 27th in the…

M Group Services has acquired a technical engineering solutions business with more than 1,500 staff.  The infrastructure services group has paid an undisclosed sum for BGEN, a Warrington-headquartered company that specialises in building services in sectors including water, pharmaceuticals, industrial and energy.  BGEN made a £15m pre-tax profit from a…

Merger and acquisition (M&A) activity in the construction sector intensified before today's Budget, with multiple deals announced. These include CN 100 firms, a Nordic cladding group and an AIM-listed housebuilding specialist. One expert told Construction News that he believed "100 per cent" that the  flurry of M&A activity reflects concerns…

Vinci Construction is to acquire infrastructure services business FM Conway, one of the biggest family-owned firms in the construction industry. Highways specialist FM Conway will be bought for an undisclosed sum after it signed a share purchase agreement with Vinci’s UK construction business this week. FM Conway said in a…

Ground engineering contractor Van Elle has acquired Scottish piling and drilling specialist Albion in a deal worth up to £3.5m. London Stock Exchange-listed Van Elle said the acquisition, announced today, would strengthen its presence in Scotland and extend the group’s technical capabilities. The purchase of Albion follows Van Elle’s acquisition…

Denmark-based multinational Rockwool Group has announced the acquisition of Wigan-headquartered external insulation manufacturer Wetherby Building Systems. The supplier will be renamed Wetherby Wall Systems under what Rockwool Group chief executive Jes Munk Hansen said was part of the group’s expansion in the UK market. “This acquisition underlines Rockwool’s commitment to…

A drilling firm has become the latest acquisition for utilities specialist OCU Group. The private equity-backed group acquired Peter McCormack & Sons, which specialises in trenchless technology solutions, for an undisclosed sum, OCU said when announcing the deal this morning (24 October). OCU chief executive Michael Hughes said the addition…

Demolition specialist John F Hunt Group has announced its sale to an employee-ownership trust (EOT). Equity in 19 of the group’s 21 companies is to be transferred to the new trust. Morris Machinery and generator supplier John F Hunt Power are excluded from the deal. Financial details of the transaction…

A £2.5bn merger between homebuilders Barratt and Redrow has got the go-ahead from regulators. Barratt initially agreed a deal to buy Redrow in February, arguing that the merger would enable them to make £90m in cost savings and drive supply chain innovation. But the Competition and Markets Authority (CMA) launched…