FMJ Facilities Management magazine providing industry-specific intelligence to FM and property professionals
Kier has agreed to acquire substantially all the rail assets of Buckingham Group Contracting Limited, which has gone into administration.
The £9.6 million acquisition will strengthen Kier’s position in the UK rail market, with projects spanning the country. Once the transaction is completed, Buckingham Group’s rail division will become part of the Kier Transportation business, which designs, builds and maintains infrastructure for the highways, rail, aviation and ports sectors.
The division’s 180 employees will all transfer over to Kier Transportation as part of the agreement.
Andrew Davies, Chief Executive at Kier Group, said: “We have previously stated that we would consider value accretive acquisitions in core markets where there is potential to accelerate the medium-term value creation plan. This acquisition is one such example – it is an excellent strategic fit and accelerates our rail strategy, providing work with new rail clients and increasing our capabilities. I am delighted to welcome our new employees, clients and suppliers to Kier.”
Joe Incutti, Group MD at Kier Transportation, said: “The Buckingham Group rail business had built a very strong reputation for assured delivery in the rail sector. I am pleased that we now welcome 180 new colleagues into Kier Transportation. The team will further strengthen our capability and this helps to bring an end to a period of uncertainty for former Buckingham Group clients and employees by ensuring continued delivery on existing projects, and the retention of hugely important skills and expertise in the rail sector.”
