Leading contractor Kier has acquired the £180m-turnover firm McNicholas Construction, to strengthen its position in the utilities and infrastructure services.
The deal is thought to be worth £15m-£20m and will see Kier take on the UK engineering services provider's portfolio, which covers telecommunications, gas, power, water, renewable energy and rail.
McNicholas' headquarters are in Elstree, Hertfordshire and the firm employs 1,880 people, with a client base that includes Virgin Media, Network Rail and UK Power Networks.
Haydn Mursell, chief executive of Kier, said: ‘The acquisition of McNicholas builds on Kier’s strategy to accelerate growth and hold leading positions in its chosen markets.
‘It is a highly complementary addition to our utility services business and enhances our presence in the power, rail and telecoms markets, with its long-standing client relationships.'
Commenting on the acquisition, Barry McNicholas, chief executive of McNicholas said: ‘it provides our clients access to a broader range of capabilities. I and the team look forward to joining Kier and playing a role in delivering the Vision 2020 strategy.’
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