Construction and property firm Kier has bought utility engineering company McNicholas in a bid to strengthen its utilities and infrastructure services offering.
Family business McNicholas provides infrastructure and engineering services for the utilities sector including gas, power and rail. The firm employs almost 2,000 people and counts UK Power Networks, Network Rail and Virgin Media among its clients.
Kier hopes the acquisition, said to be worth £15 to £20M, will help it grow in the utilities and infrastructure markets.
“The acquisition of McNicholas builds on Kier’s strategy to accelerate growth and hold leading positions in its chosen markets,” said Kier chief executive Haydn Mursell.
“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. We are delighted that Barry and his team will remain with Kier to continue the growth and development of the business.”
McNicholas chief executive Barry McNicholas said: “We are excited by the opportunities that joining a larger group gives our teams to expand and grow. It also 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.”