Kier pays £1m for Stewart Milne construction operations
Kier has today acquired certain construction operations of Aberdeen-based Stewart Milne for a total cash consideration of £1m paid on completion.
Kier said that approximately 20 Stewart Milne employees are transferring to the new owner, together with contracts in progress valued at approximately £15m and a pipeline of potential future work valued at approximately £20m.
The business will operate from Aberdeen as part of Kier Group's regional network of UK construction businesses, initially using the name Kier Milne.
Kier Group chief executive Paul Sheffield said: "I am delighted that this acquisition has concluded successfully and welcome the Stewart Milne team to Kier. We are keen to grow the business and our new base in Aberdeen should provide further, good opportunities for expansion in Scotland and the northeast."
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This article was published on 27 Apr 2012 (last updated on 1 May 2012).