The big US investor that bought Morrison Utility Services earlier this year has swooped on another UK construction business.
Private equity investor First Reserve revealed today it has sealed a deal to buy £200m regional contractor Dyer & Butler.
The Southampton-based firm delivers civil engineering and building services across southern England.
In September First Serve acquired £600m turnover Morrison Utility Services, which employs around 4,000 staff and has headquarters in Stevenage.
The new ownership and associated company structure is expected to provide Dyer & Butler with broader strengths and expertise, while offering greater scale and resources to support continued growth.
As part of the deal Jim Arnold, chief executive of MUS, will join the Dyer & Butler board.
Arnold said: “Dyer & Butler has forged an excellent market reputation for the successful delivery of construction services in regulated, safety critical sectors.”
Neil Edwards, managing director of Dyer & Butler said: “This represents an exciting step in our continued development and, with the additional support of First Reserve and our sister company Morrison Utility Services, we have the opportunity to strengthen and accelerate the growth of our business.”
Dyer & Butler builds, maintains and renews infrastructure within both the public and private sector, delivering civil engineering, building and M&E projects of all sizes for some of the UK’s largest asset infrastructure companies.
The firm’s projects are undertaken principally for regulated clients in airports and rail, including long-term framework and partnership contracts with Heathrow and Gatwick Airports, Network Rail, London Underground and Transport for London.
Credit: constructionenquirer.com
