Sale follows bidding war that included Kier, ISG and Rok

McLaren Construction has won the bidding war for Verry Construction.

According to a letter from administrator BDO, seen by Building, it has exchanged contracts for the "novation of all live contracts and the sale of certain debts".

It added: "There were a number of parties offering for the assets and we had to decide which one was most likely to succeed in obtaining novation from employers."

A notice of administration is due today.

McLaren is an Essex based contractor that specialises in the commercial, industrial, retail, leisure and hotel sectors.

It was founded six years ago and turnover in the year to 31 July 2007 almost doubled from £70m to £130m.

More to follow.