Contractor completes £40m acquisition of support services firm.
Contractor Carillion has announced the acquisition of support services company Planned Maintenance Group for £40m.
The acquisition is part of Carillion’s continued expansion into support service activities, and will strengthen the company’s presence in the health and business services markets.
Chief executive John McDonough said: “PMG is an excellent strategic fit and will add good quality earnings in the group. PMG’s long and successful track record is based on its customer-focused strategy, which fits well with Carillion’s values and culture.”
PMG is one of the UK’s largest independent building services and maintenance companies, providing services including M&E maintenance, facilities management and environmental services. It had a £162m turnover in 2004.
Carillion also released its preliminary results this week, reporting a pre-tax profit of £54.7m in line with market expectations.