The French construction giant Bouygues is to buy Midlands construction firm Thomas Vale.
Bouygues’ Construction subsidiary Bouygues Bâtiment International is to acquire 100 per cent of the 143 year old contractor, subject to the approval of the European Commission competition authorities.
Among the contracts currently being pursued by Thomas Vale includes the £128m Midland Metro extension where it is battling heavyweights Balfour Beatty and Morgan Sindall, while it was appointed to the top lot of the £3 billion Constructing West Midlands framework by Birmingham City Council in August.
Among its recent contract wins was reaching financial close on the £18m St Peter’s Academy in Stoke, and it announced it had formalised a joint venture with Architype architects to bid for design and build Passivhaus contracts in January.
Bouygues Bâtiment International said the acquisition would be a significant part of its expansion programme in the UK. Thomas Vale has an established client base across central England, which Bouygues said would complement its subsidiaries in London, the South East, South West and Wales.
Thomas Vale employs more than 700 people and expects to turn over just over £200 million for the 2012 year end at the end of March. It specialises in public and private sector new build and refurbishment in retail, offices, leisure and Housing.
Bouygues, which operates in 69 countries, said Thomas Vale would “benefit from the technical capability and commercial expertise of a global construction group with an unwavering commitment to UK growth”.
It highlighted that the contractor’s growth and delivery had resulted in considerable growth throughout the construction industry, including winning the Construction News ‘Judges’ Supreme Award’ three times in recent years.
Olivier-Marie Racine, deputy CEO of Bouygues Construction and chairman of Bouygues Bâtiment International, said: “Thomas Vale is a company with an impressive performance history, solid strategic partnerships and a strong heritage in the Midlands. This is an important region of England for the Bouygues Group and a great addition to our UK portfolio.”
Madani Sow, chairman of Bouygues UK, Warings and Bouygues Development, said: “This is a great step forward for Bouygues in the UK, enabling us to enhance our construction capabilities and extend our geographical reach. We are confident that the vision and values we share with Thomas Vale will enable us to capitalise on the strengths of our UK construction subsidiaries.”
Tony Hyde, group managing director of the Thomas Vale Group, said: “This is a very exciting time for the Thomas Vale Group, its employees, clients and other stakeholders. The resources that are now available to us through the Bouygues Group will allow us to continue to increase our market share in our key industry sectors. This move will allow the business to capitalise on additional emerging markets and opportunities which complement our skills and experience.
“We look forward to continuing our working relationships with our public and private sector clients.”