M&A

The competition watchdog has given Mitie the green light to complete its purchase of Interserve’s facilities management arm. In an investigation that has been ongoing since September, the Competition and Markets Authority (CMA) has been assessing whether the takeover would result in a “substantial lessening of competition”. Yesterday, it announced…

Breedon has sold 14 production sites to help finalise a takeover deal with Cemex. The sites, which include 10 ready-mix concrete plants, an asphalt plant, aggregate depot and two quarries in Scotland, have been sold to Tillicoultry Quarries for £12.2m. The Competition and Markets Authority had previously said there were…

The board at retirement-home builder McCarthy & Stone has told shareholders they should accept a £630m takeover bid from private equity firm Lone Star. Directors reached an agreement for an all-cash deal with Lone Star, which also owns developer Quintain. The proposal offers 115 pence per share, a 39 per…

Esh Group has sold its Scottish subsidiary Finlaysons to Carlisle-based Cubby Construction. Cubby, which reported revenue of £16.4m in its last financial year said the acquisition was part of a planned expansion of its operations in southern Scotland. Finlaysons specialises in building maintenance, joinery, painting and roofing. Its most recent…

The owner of Dundee-based contractor McGill wants to buy up a raft of construction companies to build up a £500m-turnover group. United Capital, which bought McGill out of administration in March 2019, wants to capitalise on what it calls “huge opportunities” in the market, it said. It wants to hit…

Exclusive: Concrete-frame specialist Morrisroe has bought demolition firm Cantillon, Construction News can reveal. Morrisroe has taken a controlling stake in the £37m-turnover business, a move that owner and chief executive Brian Morrisroe said enhances the range of services his firm has to offer. The deal means Morrisroe Group now has…

Modular developer Project Etopia has acquired self-build specialist Tribus Homes. Tribus, which specialises in helping people build their own properties, had previously partnered with Project Etopia to target the self-build market with a modular home offering, called E-Tribus. The buyout, for an undisclosed sum, will also see Etopia take ownership…

Permasteelisa is to be sold to US firm Atlas Holdings, its Japanese owners have announced. Current owners Lixil Group have been trying to offload the multinational – the UK’s largest envelope specialist by turnover – for several years, with financial authorities in the US blocking its proposed 2017 sale to…

The Competition and Markets Authority (CMA) has raised concerns about the potential market impact of Kingspan's acquisition of materials supplier SIG’s Building Solutions division. Kingspan and SIG agreed the £37.5m deal in October last year after SIG carried out a strategic review and moved to offload the arm, prompting the…

Chinese steelmaker Jingye has completed its takeover of British Steel. The official receiver David Chapman has confirmed the sale of the manufacturer’s steelworks at Scunthorpe, mills in Teesside and Skinningrove and subsidiaries TSP Engineering and FN Steel. Talks with regulatory bodies are ongoing about the possible sale of its mill…