M&A

Galliford Try Partnerships has agreed a deal to acquire Yorkshire-based developer Strategic Team Group. The management team and staff at the firm will remain in place, and it will trade as Galliford Try Partnerships Yorkshire from 1 July 2019. STG, which operates in Yorkshire and the North-west, employs a total…

Shares in Lendlease surged on Monday after reports that a Japanese company was considering a takeover. Mitsui, a Japanese conglomerate involved in engineering, chemicals, banking and brewing, is considering buying the contractor and developer, according to The Australian. Lendlease issued a statement denying it had received an approach from any…

Concrete frame specialist Morrisroe has moved into the piling sector with acquisition of GSS Piling and Geostructural Solutions. The deal was revealed on Friday by CN's sister title Ground Engineering. Morrisroe had been tipped to buy Cementation Skanska last year. It has since cooled on the deal, according to GE, because…

Spie was forced to take a £9.2m loss when it sold its distribution and transmission business to Keltbray last June. The French-owned firm's 2018 accounts revealed Keltbray paid Spie £697,000 for the contracts and associated assets of the loss-making business, despite the contractor valuing them at £9.9m. In spite of the loss…