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Carillion takes stake in Canadian business

12 Dec 12 Carillion has acquired a 49% interest in Canada’s Bouchier Group for £23.75m.

The Bouchier Group, which is based in Alberta, Canada, provides a range of services, including road maintenance, infrastructure services and facilities management, primarily for customers in the oil sector.  Carillion said that the acquisition complements its existing support services activities in Canada and provides access to substantial new growth markets.

At the transaction date, Bouchier Group had gross assets of £27.60m.  In the 12-month period to 31 March 2012, it had revenue of £46.25m and pre-tax profit of £7.76m.

Under the acquisition agreement, Carillion has options to acquire a further 36% interest in company after five years and the remaining 15% over six to ten years.

The vendors, David Bouchier and Nicole Bourque-Bouchier, will remain president and chief executive, respectively, following the acquisition.

Carillion chief executive Richard Howson said: ''Acquiring this interest in The Bouchier Group is an important strategic step in the development of our support services business in Canada.  The Bouchier Group has a successful track record in delivering high-quality services to a portfolio of blue chip customers.  Its knowledge and skills complement our own and this will create significant new opportunities for us to grow our support services business in Canada through extending our services offering to new and existing customers.”

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