WORCESTERSHIRE-based contractor Thomas Vale has bought £15 million turnover outfit Collier & Catley.
Tony Hyde, managing director of Thomas Vale's construction business, said: 'We met Collier & Catley through the best practice programme.We've been looking to acquire them for about a year.'
Collier & Catley's pre-tax profits fell to £174,399 in the year to May 2003 from £245,063 on turnover of £8 million.Workload is expected to surge to £15 million this year.
The acquisition of the Reading-based contractor is the third by Thomas Vale since the firm's management bought the business 12 years ago in a deal backed by venture capitalist 3i.
Thomas Vale is based in Stourport-on-Severn and has offices across the Midlands in Birmingham, Leicester, Castle Donnington and Tividale.Mr Hyde said:
'We've got a lot of clients in Oxfordshire and Buckinghamshire asking us to work for them and a Reading base will give us a chance to cover those areas.'
Thomas Vale, whose management owns 55 per cent of the business, with the remaining shares owned by 3i, bought civils contractor Fitzgerald for £600,000 in 1994 and street lighting operator Paul Adams two years ago.