Fri, 03 Aug 2012 | BUSINESS SALE
The Kier Group has completed the sale of its temporary accommodation business, along with its mechanical plant and small tools unit.
Wernick Hire has purchased the temporary accommodation business and its related real estate assets for a maximum aggregate consideration of almost £12 million, the majority of which was paid in cash upon completion.
Meanwhile, Ashstead Plant Hire Co. purchased the mechanical plant and small tools unit for a maximum aggregate consideration of just over £4 million. Again, the majority was paid in cash on completion with the balance of the consideration being retained ahead of an inspection of certain assets.
Paul Sheffield, chief executive of the Kier Group, commented on the sales: “It is important for Kier to respond to changing market conditions and, by focusing on our core business and building on our strengths, we can ensure that Kier remains a strong and resilient business and continues to grow in our chosen markets.”
The business sales have come during a period of shake-up for Kier, which is looking to offload certain assets and expand into new areas. As part of this it has completed its investment in Biogen, establishing a 50/50 joint venture with the Bedfordia Group.
Specialises in undertaking electrical and mechanical works, offering a comprehensive range of services, from minor works to full turnkey projects. The company also provides a number of hazardous area services, including installations and inspections...
The company offers a wide range of haulage services, including recyclable waste removal, building material haulage, and aggregate haulage. The business owns its fleet of trucks, avoiding borrowing or leasing, resulting in a debt-free and low-overhead...
Provides high-quality industrial and welfare cleaning services, including system boiler and ducting cleaning, filter replacements, general site cleaning, plant driver cover and plant hire.
13
|
May
|
Estate agency makes third acquisition in six months | BUSINESS SALE
Pattinson Estate Agency, a property firm based in Wallsend, ...
13
|
May
|
Access Group acquires finance automation services provider | BUSINESS SALE
SME business management software specialist Access Group has...
13
|
May
|
Military simulations firm acquired at 5x operating profits | BUSINESS SALE
Mabway Limited, a military training and simulations company,...
05
|
Sep
|
Kier acquires Buckingham’s rail assets from administrators | BUSINESS SALE
Kier Group has agreed a deal to acquire substantially all of...
04
|
Jul
|
Construction group Kier to jettison Mouchel Consulting | DIVISION SALE
Construction group Kier is gearing up to sell off Mouchel Co...
03
|
Apr
|
Kier Group mulls bid for May Gurney | MERGER
Kier Group is to spend time this week reviewing the books of...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.