M&A

Kier has agreed the sale of its residential business Kier Living to a new firm owned by financier Guy Hands, founder of Terra Firma. The deal, announced this afternoon, is for a £110m sale, payable in cash by Foster BidCo on completion of the transaction, which is expected before mid-June…

The future of Babcock International’s rail and powerlines business is in doubt after the company revealed plans to raise £400m from the sale of non-core businesses over the next 12 months. A business update from the engineering group following its year-end on 31 March stated it would focus on aerospace,…

Contractor Rydon has offloaded three of its regional construction businesses covering the South West, London and the South East to the newly formed Real Construction. The new company will focus on the residential sector and is headed up by Paul Nicholls (pictured), former managing director for Wates Residential. The company…

SSE Contracting has been sold to a private equity company for £27.5m. The M&E contracting business of SSE Plc has been acquired by Aurelius, which aims to grow the business off the back of increased public spending. Aurelius UK managing director Tristan Nagler said: “The acquisition of SSE Contracting offers…

Severfield hopes to win more HS2 work and enter new markets after its £17m takeover of steel specialist DAM Structures. Severfield said the acquisition would also give it access to early and temporary works on construction contracts thanks to DAM’s propping and steel piling capabilities. DAM’s work in the rail…

Four facade and architectural glazing companies in the UK and Ireland have joined together to create Clarison Group, Construction News can reveal. Alucraft Systems, EAG, Alucraft and Williaam Cox will form the new company. Alucraft Systems and EAG are UK-based, while Alucraft and Williaam Cox are Irish firms. All four…

Offsite specialist Premier Modular has been sold to a new owner. London-based Cabot Square Capital has acquired a majority shareholding in the £66m-turnover firm from South African firm Waco International for an undisclosed sum. Cabot Square is a specialist provider of investment capital to small and mid-sized companies in the…

Ferrovial has relaunched its sale of Amey, more than two years after its first attempt to sell the UK firm, it has been reported. Morgan Stanley has been drafted in by Amey’s Spanish owner to auction off the business, according to Sky News. The bank is expected to start lining…

Engie Group is considering putting its UK business, Engie Regeneration, into a new entity with a view to selling it off. The French firm has changed its strategy to focus on renewable energy, energy transport and large scale energy infrastructure projects. Other operations, including design-and-build construction and building and operations…

The US owner of Quintain has said it will delay a proposed sale of the Wembley developer because of coronavirus. Lone Star, the Texas-based private equity firm, had three buyers interested in acquiring Quintain before the latest national lockdown, with formal bids due to be submitted later this morning, according…