Bouygues Construction and Leadbitter group management team acquire Leadbitter from Heijmans NV
The Bouygues Construction subsidiary Bouygues Bâtiment International has joined forces with the management team of the Leadbitter group, led by the founder and current Chief Executive, Bob Rendell, to acquire Leadbitter from Heijmans NV.
Bouygues Bâtiment International and the Leadbitter group management team signed an agreement with Heijmans NV on December 23, 2010 to acquire the Leadbitter group. Subject to approval by the European Commission competition authorities, Bouygues Bâtiment International will own a 51% stake.
The Leadbitter group, which includes Denne Construction, employs 700 people and is expected to record revenue for 2010 of approximately £340 million (€400 million). With headquarters close to Oxford, the company specialises in construction, particularly in the housing segment, and operates over a vast area covering the entire south of England. The group has achieved considerable success in recent years, resulting in it being named "UK Contractor of the Year" in the prestigious 2009 Building Awards.
The additional capacity provided by Bouygues Construction will enable Leadbitter to strengthen its position on value added projects and on new procedures for awarding public contracts. It will also benefit from numerous synergies with other Group subsidiaries already operating in the United Kingdom: Bouygues UK, Warings, ETDE and its specialist subsidiaries (David Webster, ETDE Contracting and Icel).
Bob Rendell is very upbeat about the deal, stating that "this is a very exciting time for the Leadbitter Group and for its employees. The resources available to us through the Bouygues Group place us in an enviable position, enabling us to continue to increase market share in our key industry sectors as well as capitalise on emerging business opportunities that complement our skills and experience."
Olivier-Marie Racine, Chief Executive and Chairman of Bouygues Bâtiment International, said: "This agreement in conjunction with the Leadbitter management team is an excellent illustration of our development strategy in sustainable locations in the most buoyant regions of England."
About Bouygues Construction
Bouygues Construction is one of the world's leaders in the building, civil works, energy and services sectors. Organised as seven complementary entities, it has proven expertise in the finance, design, construction, maintenance and operation of buildings and structures, offering its customers a vast range of innovative solutions. The Group is addressing the environmental challenges confronting its businesses through a pragmatic and far-reaching approach, which covers the design, construction and operation of buildings and structures for which it is responsible. It has the firm ambition of being a leader in terms of sustainable construction. With 52,600 employees throughout the world, the Group generated sales of €9.5 billion in 2009.
About the Leadbitter Group
The Leadbitter Group is a British construction firm active in both the public and private sector. Leadbitter develops and realises residential properties in the social rental sector, and public properties such as schools, hospitals and leisure facilities. Leadbitter operates primarily in the South of England and Wales. Denne Construction is part of Leadbitter.