Bouygues Construction subsidiary Bouygues Bâtiment International has signed an agreement to acquire Midlands construction firm the Thomas Vale Group.
Established in 1869, Thomas Vale expects to generate a turnover of over £200M for the 2012 financial year end (March 2012) and employs over 700 people. The deal is subject to approval by the European Commission competition authorities.
Thomas Vale specialises in new build and refurbishment within both the public and private arenas including the retail, office and leisure sectors, and has a proven track record in housing and regeneration through its long-term public sector partnerships. The firm is well established in the central region.
Bouygues called it a “significant acquisition” for Bouygues Bâtiment International’s expansion programme in the UK and said it gave the firm access to a buoyant geographical region that complements the Bouygues Construction Group’s existing subsidiaries in London, the South East, South West and Wales, namely Bouygues UK, Warings, Leadbitter, Denne and ETDE.
“This is an important region of England for the Bouygues Group and a great addition to our UK portfolio,” said Bouygues Construction deputy chief executive and Bouygues Bâtiment International chairman Olivier-Marie Racine.
Thomas Vale Group managing director Tony Hyde said it was a “very exciting time”. “The resources that are now available to us through the Bouygues Group will allow us to continue to increase our market share in our key industry sectors,” he said. “This move will allow the business to capitalise on additional emerging markets and opportunities which complement our skills and experience.”