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Spie acquires controlling interest

Early this year French company Spie Fondations acquired a controlling interest in Piling Solutions and its sister businesses, Piling Equipment Specialists and Solutions in Training.

Piling Solutions managing director Ceri Hobbs says: 'As of 1 January Spie owns 51% of Piling Solutions. The object of the investment is to have a Spie group in the UK and for it to operate as a UK company. In the future we will be able to offer diaphragm walls, large diameter CFA piling and jet grouting.' The move is intended to help Spie manoeuvre itself as a major player in the European market.

The takeover will also allow Piling Solutions to expand its range of geotechnical services from its staple market of limited access and restricted headroom.

Hobbs says: 'Over a period of 10 years Spie will have the option to acquire more of the business until it owns 100%.

'The intention is always that we will be a UK business. Spie feels very strongly about that.

It won't advertise itself as Spie, it will be Piling Solutions.' Spie representative Richard Wright has joined Piling Solutions as operations director reporting to Hobbs, who has become managing director of all three acquired businesses.

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