MBO team buys Carillion BTP SA for £10m and renames contractor Cari.
Carillion has agreed to sell Carillion BTP SA, its French civil engineering contracting and building business to a management buyout, backed by Ciclad, the French venture capital group.
The sale price is expected to be approximately £10 million. In 2003, Carillion BTP SA recorded an operating profit of £2 million. Carillion chief executive John McDonough said: “The sale is in line with our strategy of focusing on selected growth markets and strong risk management.”
The sale is expected to be completed in November. The head of Carillion BTP SA, Georges Dao, has said that the company will be renamed Cari.