Kier, the UK construction, development and service group, has acquired Hugh Bourn Developments, the Lincolnshire-based housebuilder, for £53m. Kier will pay an initial £20m in cash for the business, with the remainder due in equal instalments on 2 July 2007 and 1 July 2008. Hugh Bourn, which has been run as a family business for 30 years, will form a fifth division of Kier's residential business. The Bourn family were advised on the transaction by commercial law firm Fladgate Fielder.