South east concrete frame contractor Morrisroe is expanding into the foundations sector after buying specialist contractors Geostructural Solutions and GSS Piling.
The two firms, founded by Andy Parks, together turnover up to £15m and specialise in structural underpinning, basement works and restricted access piling.
GSS will operate independently of Morrisroe’s other businesses, strengthening its customer offering.
Martin Pedley of Morrisroe will be appointed as managing director and will work closely with Parks, who will remain actively involved in business operations.
Brian Morrisroe, CEO Morrisroe Group, said: “This is an exciting opportunity for us, fully aligned with our strategy to offer our clients a broader scope of services, particularly in respect of executing basement boxes, substructure and foundation works.
“We are looking forward to welcoming Andy and the GSS team and its clients alike into our group.”
Previously Morrisroe had made overtures to buy Skanska’s foundations business Cementation.
But talks collapsed over the asking price for the £70m revenue business, which employs around 380 staff.
GSS Piling is a specialist civil engineering and mini piling contractor with its main operations within the London, South East area and surrounding counties.
It undertakes both small and large scale civil engineering and piling projects for residential, commercial and public authorities with budgets ranging from £5k to £1.5m.
The company was founded in Sept 2006 and has grown to an organisation with an annual turnover in the region of £5m to £6m.
GSS, which was formed two years earlier, carries out groundworks and complex basements and boasts previous revenues of between £8m-£10m.
Parks said: “This deal is great news for GSS as it brings the necessary resources for us to take the Solutions and Piling brands to the next level on our 15th anniversary.
“I see many synergies in being part of Morrisroe Group. I’m proud of our team’s achievements so far and am very happy to be part of the future success within Morrisroe Group.”
Original article: constructionenquirer.com
