M&A

Cambridge-based M&E contractor CPS Building Services has been acquired by US private equity firm HIG Capital. The specialist, which turned over £24.6m in the year to January 2021 and made a pre-tax profit of £4m, is the first of a number of purchases planned by the American investor, which has…

The Competition and Markets Authority (CMA) has raised concerns over competition on HS2 bidding due to the proposed merger of Bouygues and Equans. In November 2021, Bouygues struck a £6bn deal to buy Equans, the construction and services business owned by Engie, including the latter’s UK Regeneration and facilities-management arms.…

Property developer and investor Landsec has launched a new regeneration division. The new business will be created by meshing Landsec’s pipeline of regeneration work together with recently acquired regeneration specialist U+I. Mike Hood (pictured) will head up the new division as chief executive. Hood, who was formerly managing director at…

Ritchie Bros, which supplies auctions for the sale of heavy machinery, has cancelled plans to merge with competing firm Euro Auctions, calling off the potential £775m deal. When the deal was first tabled, the Competition and Markets Authority (CMA) referred it for a second round of investigations. This followed the…

Ground engineering specialist Keller is still looking to expand its UK business, but the aim this year remains a “watching brief”. Company chief executive Michael Speakman told Construction News in August that acquisitions in the UK were a focus for 2022. But Speakman said he was a “patient person” and…

Civils firm Fitzgerald Contractors has become the latest firm to be sold to an employee-ownership trust. The company, which turned over £17.1m in the year to March 2021, was a subsidiary of Thomas Vale until it was acquired by managing director Nick Coley in 2013, after its parent company was…

Cruden Group is consolidating its regional housebuilding businesses into one central operation. Cruden Building (East) and Cruden Building (West) will be combined to form Cruden Building (Scotland) Limited. Some 180 employees from Cruden Building (East) will transfer over to the combined business, which will have a total of nearly 500…

Consultant Aecom has bought a 30 per cent stake in SLC Rail. Aecom has worked closely with the SME in recent years, including on the £166m project to reopen the Northumberland rail line which was closed under the Beeching cuts in 1965. Six new stations are also being built along…

John Sisk & Son is in "advanced discussions" with Quintain over a new £220m construction project at Wembley Park in north London. The contract would comprise a new 85-acre neighbourhood in the area called North East Lands, made up of more than 2,000 new homes, public realm and a base…

Spanish engineering consultant Ayesa is expanding in the UK market, thanks to its acquisition of ByrneLooby, Construction News can reveal. Ayesa has bought the firm for an undisclosed fee in order to gain greater access to ByrneLooby's market, including the UK. It cited the £650bn National Infrastructure Pipeline as presenting…