M&A

Housebuilder Barratt has agreed a deal to buy rival Redrow, allowing the combined business to make £90m in cost savings, it announced this morning. An announcement to the London Stock Exchange said that the £2.5bn deal, which would make the new firm the biggest housebuilder in the UK, would drive…

Utilities contractor M Group Services has acquired home decarbonisation firm AgilityEco, in its latest move to improve its renewable energy capabilities. AgilityEco helps energy providers, local authorities and other companies improve energy efficiency and reduce utility bills. It was bought for an undisclosed sum. The Surrey-based firm joins M Group’s…

Netherlands-based private equity firm Mutares has acquired modern methods of construction specialist Byldis UK for an undisclosed sum. The UK firm spun out of the Hurks group (also based in the Netherlands) in 2018 and now employs more than 400 people with a head office in London. Mutares invests in…

Van Elle Holdings has bought Galliford Try’s specialist piling business Rock & Alluvium in a deal worth up to £3.8m. Van Elle made an initial payment of £1.8m, with £2m payable 12 months from completion, subject to completion accounts. The firm will acquire 11 piling rigs and take on Rock…

Materials distributor Brickability has bought Scotland-based cladding and remediation specialist Topek in a deal worth up to £45m. The acquisition is Brickability’s 12th following its public listing in 2019, with the company following a strategy to “broaden and deepen” its portfolio. The deal consists of an initial £27.3m, followed by…

Osborne has disposed of its property maintenance arm, the third division it has sold in two years. The company said it “continues [to] restructure to focus on [our] core construction and development business” after selling its maintenance arm Osborne Property Services (OPSL) to Cardo Group, which specialises in public sector…

Kier has saved 180 jobs after buying Buckingham Contracting Group's rail business for £9.6m. Buckingham was set to become the largest construction firm to collapse since Carillion, when it filed a notice to appoint administrators on 16 August, citing losses on three of its stadium jobs and an earthworks project…

Mitie Group has acquired JCA Engineering in a deal worth up to £31.5m. The facilities management company has paid JCA £21m upfront and will offer up to £10.5m over three years, depending on the contractor’s performance. JCA is an engineering and fit-out contractor founded in 2004, and now has 180…

Vinci Energies has acquired Scotland-based firm NorPower, a specialist in extra-high-voltage overhead lines. Established in 2003, NorPower is based in Muir of Ord in the Scottish Highlands. It specialises in wood pole and steel overhead lines construction, installation, reconfiguration and refurbishment. The firm employs 30 staff. NorPower is Vinci’s second…

FM Conway has acquired Essex-based Flowline and its 164 employees from administration. Specialist drainage contractor Flowline appointed administrators from PwC on Friday (5 May), when it was renamed F (Realisations) 2023 Limited. The immediate sale of Flowline at 2.57am on Friday means all of the company’s 164 employees have transferred…