Kier in talks to buy Tilbury Douglas - report
Kier Group is in talks to acquire Tilbury Douglas, the construction arm of collapsed outsourcer Interserve, it was reported on Tuesday.
18 January 2022 08:48:31
Source: Sharecast
According to Sky News, the listed construction firm is holding exclusive takeover discussions and the Cabinet Office has been notified of Kier’s intention to acquire the business. The Cabinet Office overseas all government suppliers.
If completed, the deal would secure Kier's position as one of the government's largest contractors, with projects ranging from roads to hospitals.
Financial details are currently unknown, although Interserve’s remaining group pension scheme is expected to be taken on as part of the transaction, Sky said.
Interserve, a government contractor which employed around 45,000 people, went into administration in 2019. Rival Mitie acquired its facilities management arm in 2020 in a £270m deal, while equipment services arm RMD Kwikform was sold to France’s Altrad Group last year.
A sale of Douglas Tilbury will complete the break-up of Interserve.
Neither Kier nor Douglas Tilbury have yet commented on the report.