Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to the newest version of your browser.

Your browser appears to have cookies disabled. For the best experience of Construction News, please enable cookies in your browser.

Welcome to the Construction News site. As we have relaunched, you will have to sign in once now and agree for us to use cookies, so you won't need to log in each time you visit our site.
Learn more

Interserve expands in US with £22m deal

Interserve has bought the US formwork and shoring business CMC Construction Services in a deal worth £22 million.

Interserve said it will help with the firm’s expansion into the US, the world’s biggest construction market.

The CMC business will be merged into Interserve’s Equipment Services division upon completion of the deal, with Interserve keeping the majority of CMC’s management and senior staff.

A statement accompanying today’s announcement said: “The acquisition is the next step in Interserve’s strategy to expand its international growth with a fuller service offering, a major part of its platform for long-term growth. CMC has been one of the leading resellers of formwork and shoring solutions in the USA, primarily serving the civil engineering markets in Texas, Colorado and California, and has been a customer of its Equipment Services business since 2004.”

Interserve chief executive Adrian Ringrose said: “This expands the group’s international footprint and provides an attractive growth opportunity for our Equipment Services division at a price that we believe represents excellent value for shareholders. We are excited by the opportunity to leverage our expertise and experience within Equipment Services to generate significant growth in the US over the coming years.”

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.

Related Jobs