Kier makes double acquisition
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Construction company Kier Group has acquired Pure Recycling Warwick and Pure Buildings.
Construction and civil engineering company Kier Group has acquired Pure Recycling Warwick and Pure Buildings for up to £7.1 million.
The acquisition, which was for an initial payment of £2 million along with an additional performance-related sum of up to £5.1 million, also includes a materials recycling facility in Warwickshire currently under construction and due for completion in 2011.
Kier acquired Pure Recycling and Pure Buildings from majority shareholders Nicholas Spencer and Jodie Spencer.
Kier chief executive Paul Sheffield says: ‘We are delighted with the acquisitions which strengthen Kier's waste management and recycling business and will leave the Group well placed to take advantage of future market growth in the sector.’