DEW PILING was acquired by Belfast-based Lagan Holdings - part of the Lagan group - last month.
Lagan Holdings bought the assets and stock of Dew Piling, the piling division of Dew Construction, from receiver Ernst & Young. The deal was signed on 9 June following the collapse of Dew Construction in May (GE June 06) and included the transfer of 25 employees.
A £29M pensions deficit and losses on work in Gibraltar meant two subsidiaries of Dew Pitchmastic, which owned Dew Piling, were placed in receivership. Ernst & Young was called in for the Dew Construction division and as administrator of Dew Remediation.
The acquisition gives Lagan Holdings a foothold in the UK piling market and complements its Irish subsidiary FK Lowry Piling.
Lagan Holdings said the move also created opportunities for FK Lowry Piling to expand its range of services and client portfolio in Ireland through offering driven piles, while helping Dew Piling target nondriven piling projects in the UK.
Dew Piling will retain its trading name. The firm carries out conventional and silent piling including sheet and web piles, tubular piles, H piles, tension piles, wailings, ties and anchors.