Firm paying undisclosed sum for historic name
Sisk is buying Belfast-based building and civil engineering contractor Farrans for an undisclosed sum.
Farrans was put up for sale nearly three years ago by its owner, building materials giant CRH.
Sisk, which works across the UK and Ireland has a turnover of around €2.5bn (£2.2bn), said that as part of the deal Farrans will continue to trade under its own brand and all project operations will continue as normal.
In its last set of results for the year to December 2023, Farrans, while files its accounts under the name Northstone (NI) Ltd, had a turnover of £512m, down 5% on last time, but improved pre-tax profit 15% to £8.2m.
Sisk chief executive Paul Brown said: “The acquisition of Farrans represents an excellent opportunity for Sisk to broaden its sectoral reach across the UK and Ireland. Their strong reputation and track record in delivering complex infrastructure projects aligns well with our strategic growth ambitions. This acquisition creates significant opportunity to capitalise on the growing aviation, energy, water and utility sector markets.”
Farrans was set up more than 80 years ago and employs around 625 people across three main offices in Belfast, London and Edinburgh.
Farrans managing director Dominic Lavery said: “We believe that Sisk is the right strategic fit for our business as we look to the future. We’re pleased that Farrans’ people, culture, and brand will be retained, and we look forward to working together to deliver for our clients across the UK and Ireland.”
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