Acquisition enhances Mansell’s position in the new build affordable housing market and expands its construction capabilities in airports.
Balfour Beatty, the international infrastructure group, announces today that it has acquired certain segments of Rok’s business in affordable housing and general construction for a consideration of £7 million, of which £4 million has been paid in cash. The balance of £3 million will be paid as contracts transfer. We expect these operations to add approximately £100 million p.a. to the Group's revenue.
The acquired segments and 381 employees therein will be integrated into Mansell, our regional construction business. Rok’s operations in affordable housing, which are principally in the South West and North West of the UK, will support Mansell’s strategy of being a leading provider in affordable housing where long-term demographics are favourable. Rok’s general construction activities will enhance Mansell’s existing capabilities at Heathrow and Gatwick airports as well as expanding its geographical presence into the South Midlands. We are working with Rok’s administrator towards an efficient transition of these operations to minimise disruption to clients and to protect jobs in the operations we are acquiring.
Balfour Beatty Chief Executive Ian Tyler, said:
“The strategic fit between the operations of Rok and Mansell, reinforced by the quality of the Rok management team and staff, presents a big opportunity for us to develop our UK regional business on attractive terms to our shareholders.”
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