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Fri July 19 2024

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Octavius rescues R&W

25 Jul 23 Southampton-based R&W Civil Engineering has been substantially acquired by Octavius Infrastructure.

Octavius, formerly Osborne Infrastructure until its private equity acquisition last year, has completed the purchase of the business assets and most of the customer contracts of R&W Civil Engineering and R&W Limited (R&W).

R&W last week filed notice of intent to appoint an administrator. The acquisition followed detailed negotiations and extensive due diligence, Octavius said.

In the year to 31st March 2022 R&W Civil Engineering turned over £32m and made a pre-tax profit of nearly £900,000. In the same year Octavius turned over £191m and made £5.9m pre-tax profit.

Octavius chief executive John Dowsett said: “R&W is an organisation that we had identified in our acquisition strategy some time ago as a great fit both culturally and in terms of their complimentary capability. Securing this acquisition supports our ambitious growth plans to become a market leading transport infrastructure provider. Whilst we would clearly like to have taken over the business in different circumstances, we are delighted to be able to step in to support existing Customers and protect people’s livelihoods.

“The combined offering of Octavius and R&W has the capability to both self-deliver and integrate an SME supply chain to deliver a broad range of highway and civils projects for a variety of customers; from small reactive responses to large major projects, regionally and nationally, safely delivering these with a consistent collaborative approach that is underpinned by our aligned core values.”

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