The year saw a revival of the tradition of mergers and acquisitions in the construction sector, after the Brexit vote malaise marred 2016.
The year saw a revival of the tradition of mergers and acquisitions in the construction sector, after the Brexit vote malaise marred 2016.
Atkins kicked things off with a £2.1bn merger with Canadian-based SNC-Lavalin, which led to the departure of Atkins chief executive Uwe Krueger (pictured left), while Waterman Group accepted Japanese giant CTI’s £43m bid.
Then, in the heady days of summer, US-based engineer Jacobs bought its rival CH2M for $3.3bn (£2.5bn) creating a consultancy even larger than Atkins’ completed merger.
And Chinese firm Grandland bought Italian cladding contractor Permasteelisa for €467m (£426m) creating the “biggest curtain wall player in the world”.
Not to be outdone, Swiss consultant Tyréns acquired a stake in engineer Hilson Moran, and Canadian-based WSP snapped up Kiwi consultant Opus for £148m.
Towards the end of the year, Willmott Dixon offloaded its residential development business to Malaysian-based property developer EcoWorld International and JRL snapped up Lakesmere subsidiary McMullen Facades after the firm collapsed into administration.
The exception was Bovis Homes, which successfully rebuffed the advances of homespun rivals Redrow and Galliford Try.
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