Spanish contractor Ferrovial has this week bought infrastructure services firm Enterprise for £385M and will merge the firm with its existing UK subsidiary Amey.
Ferrovial is buying Enterprise from international investors 3i in a move that will double the firm’s presence in the UK and give a greater presence in the utilities and environmental sectors.
Enterprise’s order book stood at £1.1bn in 2012, excluding its joint venture with Mouchel (see box), with 9,600 employees.
“The acquisition of Enterprise will create value through synergies derived from integrating it into Amey,” said Ferrovial Services chief executive officer Santiago Olivares.
“The deal strengthens our position in markets with growth potential. In terms of client types, range of services and geographical footprint, the two companies are highly complementary and offer great potential to share resources,”
“The newly combined company will have the capability to offer our clients added value integrated services in an efficient way.”
Amey’s chief executive officer Mel Ewell will head the combined company once the transaction is complete.
Mouchel buys 50% stake in EnterpriseMouchel
Consultant Mouchel has bought Enterprise’s 50% stake in the EnterpriseMouchel (EM) joint venture.
EM will continue to operate as a fully incorporate company and there will be change to contract teams and employees will continue to be employed by the firm.
“Over the next few months Enterprise and Mouchel will work together to ensure a smooth transition following the share ownership change,” said Mouchel in a statement.