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Gleeson sells engineering arm for £36m
20/10/2006
MJ Gleeson, the UK construction company, has sold its engineering division to Black and Veatch Corp of the US for a cash consideration of £36m.

The division is the third Gleason operation to be sold off this year as part of a strategic move to focus on housing regeneration, commercial property and land trading. In March, the company sold its rail engineering business Gleeson MCL to Morgan Sindall for £23m, and in July the specialist structural renovation unit Concrete Repairs underwent a £3m management buy-out.

The engineering unit has 950 employees and its main activities concern water-related construction.

Black & Veatch, who saw off competition from UK construction firm Balfour Beatty to purchase the business, is a engineering, consulting and construction company with more than 90 offices around the world

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