Bouygues buys Thomas Vale
Bouygues Bâtiment International has signed an agreement to acquire 100 per cent of the Midlands construction business the Thomas Vale Group.
The price was not disclosed and the deal is subject to approval by the European Commission competition authorities.
Bouygues described Thomas Vale as “a significant acquisition” for its UK expansion plans, complementing its existing subsidiaries in London, the southeast, southwest and Wales, namely Bouygues UK, Warings, Leadbitter, Denne and ETDE.
Established in 1869, Thomas Vale expects to generate a turnover of just over £200m for the financial year ending 31 March 2012, and it employs more than 700 people. With a head office in Worcestershire and regional offices in central Birmingham, the company has a well-established client base across central England.
Olivier-Marie Racine, deputy CEO of Bouygues Construction and chairman of Bouygues Bâtiment International, said: “Thomas Vale is a company with an impressive performance history, solid strategic partnerships and a strong heritage in the Midlands. This is an important region of England for the Bouygues Group and a great addition to our UK portfolio.”
Madani Sow, chairman of Bouygues UK, Warings and Bouygues Development, said: “This is a great step forward for Bouygues in the UK, enabling us to enhance our construction capabilities and extend our geographical reach. We are confident that the vision and values we share with Thomas Vale will enable us to capitalise on the strengths of our UK construction subsidiaries.”
Thomas Vale group managing director Tony Hyde added: “This is a very exciting time for the Thomas Vale Group, its employees, clients and other stakeholders. The resources that are now available to us through the Bouygues Group will allow us to continue to increase our market share in our key industry sectors. This move will allow the business to capitalise on additional emerging markets and opportunities which complement our skills and experience. We look forward to continuing our working relationships with our public and private sector clients.”
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This article was published on 11/04/2012 (last updated on 12/04/2012).