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Tue June 15 2021

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MBO takes Fitzgerald private again

7 May 13 Bouygues Bâtiment International has sold its Birmingham-based civil engineering subsidiary Fitzgerald Contractors to managing director Nick Coley.

New owner Nick Coley
New owner Nick Coley

Fitzgerald was formed in 1948. In 1993 it was bought by the Thomas Vale Group and operated as an independent business within that group. Last year Thomas Vale was acquired by Bouygues.

Nick Coley, who was appointed to the Fitzgerald board in 2008, will continue as managing director and the existing senior management team will remain in place. David Newcombe, formerly group finance director of Thomas Vale, joins the company as non-executive chairman.

Mr Coley said: “Fitzgerald is a £24m company, employing over 100 local people. I am delighted to have completed the acquisition of the company and am confident that as an independent company we will be able to offer an even greater top-down commitment and focus to our clients. It will also present us with many opportunities to deliver business growth and enhance client care and project delivery.”

He added: “It is a great achievement to be celebrating our 65th anniversary and the acquisition will present a new chapter in our history. Our financial standing remains extremely strong.; we have a strong balance sheet with no borrowings and insurance and bonding facilities have already been arranged and are in place.”

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