Construction group’s subsidiary snaps up Midlands business
Bouygues Construction subsidiary Bouygues Bâtiment International has signed an agreement to acquire 100% of the Thomas Vale Group, subject to approval by European Commission competition authorities.
Midlands-based Thomas Vale employs more than 700 staff and expects to have generated a turnover of just over £200m for the 12 months to the end of March.
It specialises in new build and refurbishment within both the public and private sectors, as well as retail, office and leisure developments.
Bouygues Bâtiment International said the acquisition would be a “significant move” for its expansion programme in the UK, providing it with access to a buoyant region that complements Bouygues Construction Group’s existing subsidiaries in London, the South East, South West and Wales.
It said Thomas Vale, which has a head office in Worcestershire and regional offices in Birmingham, would benefit from the Bouygues global technical capability and commercial expertise.
No financial details relating to the acquisition were immediately available.
Bouygues Construction deputy chief executive officer Olivier-Marie Racine said Thomas Vale had an impressive performance history, solid strategic partnerships and a strong heritage in the Midlands.
“This is an important region of England for the Bouygues Group and a great addition to our UK portfolio,” he said.
Thomas Vale group managing director Tony Hyde said Bouygues resources would allow it to continue to increase its market share in key sectors.
“This move will allow the business to capitalise on additional emerging markets and opportunities which complement our skills and experience,” he said.
“We look forward to continuing our working relationships with our public and private sector clients.”