Fri, 03 Aug 2012 | BUSINESS SALE
The Kier Group has completed the sale of its temporary accommodation business, along with its mechanical plant and small tools unit.
Wernick Hire has purchased the temporary accommodation business and its related real estate assets for a maximum aggregate consideration of almost £12 million, the majority of which was paid in cash upon completion.
Meanwhile, Ashstead Plant Hire Co. purchased the mechanical plant and small tools unit for a maximum aggregate consideration of just over £4 million. Again, the majority was paid in cash on completion with the balance of the consideration being retained ahead of an inspection of certain assets.
Paul Sheffield, chief executive of the Kier Group, commented on the sales: “It is important for Kier to respond to changing market conditions and, by focusing on our core business and building on our strengths, we can ensure that Kier remains a strong and resilient business and continues to grow in our chosen markets.”
The business sales have come during a period of shake-up for Kier, which is looking to offload certain assets and expand into new areas. As part of this it has completed its investment in Biogen, establishing a 50/50 joint venture with the Bedfordia Group.
The company is the one area’s premier agents and has been established for over 25 years and has an excellent brand name and reputation that has been successfully built up over many decades.
We are pleased to present an exceptional opportunity to acquire a well-established and profitable haulage company based in the North West of England. The company, which has been operating since the early 1990s, specialises in servicing two key sector...
Industrial unit consisting of 16,000 square meters. CCTV (12 cameras). Single fronted with roller door and vehicular access. Concrete floor, brick walls and glass roof. Two EPOS cash positions, commercial printer, and adjustable shelves.
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