With the acquisition of Warings, Bouygues Construction strengthens its presence in the UK
Bouygues Construction has acquired UK company Warings, through its subsidiaries Bouygues Bâtiment International and Bouygues Entreprises France-Europe.
Founded more than 70 years ago, Warings is based in Portsmouth and operates primarily across the south of England. The company undertakes new build and refurbishment projects in a wide variety of sectors, ranging from residential, healthcare and commercial, to industry, airports and defence. The company has a workforce of 240 and sales of almost €150 million, more than half of which through partnerships and framework agreements.
Bouygues Construction is already present in the UK through its subsidiaries Bouygues UK and ETDE. The acquisition of Warings will broaden its expertise and increase its geographic reach.
Based in London, Bouygues UK has carried out a broad range of projects over the past ten years: in healthcare (West and Central Middlesex Hospitals), education (schools in Barking and Peterborough), administrative buildings (for the Home Office) and, more recently, social housing, primarily through public-private partnerships (financing, design, construction, operation/maintenance). Bouygues UK expects to generate sales of €140 million in 2007, up 51% on 2006. The company expects new orders to reach a record high of almost €500 million this year, with major projects including a Building Schools for the Future partnership in Waltham Forest, and private-finance-initiative contracts for the North Middlesex and Broomfield Hospitals.
Bouygues Construction's other UK subsidiary, ETDE, specialises in electricity and maintenance. The company is responsible for the facilities management of many public buildings and the street lighting of several districts of London (Barnett, Enfield, Lambeth, Brent, etc.). Since 2005, ETDE has acquired three companies: David Webster Ltd (street lighting), Icel (maintenance and operation of power systems and generators) and Thermal Transfer (HVAC engineering and cleanrooms), thus increasing its expertise and geographic coverage. ETDE expects UK sales to total almost €300 million this year, up 30% on 2006.
Bouygues Construction expects overall sales in the UK to total almost €440 million in 2007, up 36% on last year.
Yves Gabriel, Chairman and CEO of Bouygues Construction, said: "This acquisition comes just after the signing of our first major civil engineering contract in the UK*. It reflects our proactive strategy of pursuing strong European development in all business areas". Since 2005, Bouygues Construction has acquired a number of companies as part of this strategy. They include VCES in the Czech Republic, Marazzi and Mibag in Switzerland, Szigma-Coop in Hungary and Karmar in Poland.
* New Tyne Crossing (see press release dated 29 November 2007)