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Carillion completes Eaga takeover

Carillion has officially completed its takeover of green outsourcing firm Eaga, the company has confirmed.

In a statement to the Stock Exchange Carillion chief executive John McDonough said the acquisition was an important step in Carillion’s development.

He said:  “The combination of Carillion and Eaga brings together two highly complementary businesses and creates a scalable platform to build the UK’s largest independent energy services provider.

“As one of the UK’s leading support services companies, delivering services to manage, maintain and operate large, complex property estates and infrastructure networks, we expect the low carbon market to provide major new opportunities for our support services business.

Mr McDonough believes the acquisition of a market leading energy efficiency firm will enhance the group’s position by offering substantial growth opportunities.

And he said Carillion’s scale would help maximise the growth opportunities Eaga is already pursuing.

He added:  “”We therefore continue to expect the acquisition to be immediately earnings enhancing, adding to Carillion’s previously announced objectives for growth in both the short and medium term.” 

By choosing a share alternative to all the cash offered under the acquisition the Eaga partnership trust now has a combined shareholding of 6.59 per cent in Carillion.

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