French company is purchased contractor’s East Anglian contracting business and property solutions division
Vinci has bought the bulk of troubled contractor Haymills in a pre-pack administration deal.
The agreement with the French giant followed just over a week of talks that involved several other suitors.
The deal is for the company’s East Anglian contracting business and property solutions division.
David Joyce, chief operating officer of Vinci in the UK, said: “The acquisition is a significant step in our strategy of consolidating our presence in the sectors of facilities management and maintenance, as well as giving us a presence in the East Anglian region through the contracting side of the Haymills business.”
A statement from administrator Pricewaterhouse Coopers said the company had run into trouble meeting its financial obligations and coping with losses its Gibraltar operation.
The acquisition by Vinci follows its £74m purchase of Taylor Woodrow last September.