M&A

Crest Nicholson looks set to merge with Bellway in a £720m takeover deal, after its management backed the latest proposal.  The merger between Crest and Bellway, which have turnovers of £780m and £1.25bn respectively, would create further consolidation in the housebuilding sector - with two other giants, Redrow and Barratt,…

ISG’s parent company Cathexis is set to sell the sixth-biggest UK contractor after eight years, amid worries about the London-based firm's finances. ISG chair and Cathexis chief operating officer Matt Roche told stakeholders that the buyer, whose identity he did not disclose, would make a significant investment in the business.…

The UK’s ninth-largest contractor has been sold for an undisclosed sum.  M Group Services, which turned over £1.86bn in its 2022/23 financial year, will officially have a new private equity owner in autumn upon completion of the deal between seller PAI Partners and buyer CVC.  The infrastructure contractor has 11,000…

Infrastructure and energy company OCU Group has acquired civils firm RJ McLeod for an undisclosed sum. OCU stated that the acquisition, announced today (11 June), will increase its annual revenue to more than £800m “and grows the capability and capacity for work in supporting the critical UK energy transition” to…

A merger last year between two duct suppliers could increase the cost of commercial projects, the UK competition regulator has concluded. The Competition and Markets Authority (CMA) launched an investigation in November into Lindab’s acquisition of Birmingham-based HAS-Vent, over fears the move might limit competition in duct supply. The combination…

Steelwork specialist Shufflebottom has been sold to a startup steel construction acquisition vehicle. The firm has been acquired by Embrace Steel Group, a company incorporated in 2020, whose website says it is committed to “assembling a team of industry experts in steel frame building design and manufacturing through strategic acquisitions”.…

The Competition and Markets Authority (CMA) has dropped its inquiry into a merger between two aggregates firms after the parties committed to giving up some of their sites. Hanson, which changed its name to Heidelberg Materials in November, agreed to purchase £228m-turnover construction material supplier Mick George Ltd in December…

SSE has bought back its former mechanical and electrical (M&E) contracting arm, now called Enerveo, three years after selling it. Announcing the deal this week, an SSE statement said: “Enerveo has found it challenging to operate as an independent business.” It did not reveal the value of the deal. “Following…

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…