Deal due to be formally completed next month
Van Elle shareholders have overwhelmingly backed Strabag’s planned takeover of the piling contractor for £59m.
The deal, first announced seven weeks ago, is expected to be rubber-stamped next month once a court hearing sanctioning it takes place on 11 June.
The £20bn turnover, Austrian-based Strabag is targeting growth in the UK and currently working on major infrastructure schemes such as HS2 and the £3bn Haweswater Aqueduct Resilience Programme in north-west England.
Van Elle listed in 2016 and is one of the UK’s largest ground engineering and geotechnical contractors with a turnover of £130.5m and employing 650 staff.
In an update announcing the shareholders’ decision, Van Elle said that “challenging trading conditions” continued throughout the rest of its latest financial year which closed on 30 April.
It added: “[These] contributed towards the Van Elle Group’s performance during April being weaker than anticipated. Adjusted profit before tax for the full year ended April 2026 is now expected to be below the Van Elle Board’s previous expectations.”
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