Thu, 28 Nov 2013 | MERGER
The bosses of Mivan and Lagan Group Holdings, two main players in the Northern Ireland construction market, are looking into merging the two businesses, the BBC has reported.
The businesses hope to gain from becoming a larger group. A combined workforce would see hundreds of Northern Ireland-based staff working for the group, with additional staff based in other areas.
The thinking behind the proposal is that a bigger organisation would stand to compete more effectively to win and fulfil contracts in an increasingly competitive market.
The Lagan Group has already had plenty of experience with the merger process. It de-merged after the two Lagan brothers had an argument and divided the company between the two in 2008. Kevin Lagan now owns the group.
Earlier this year Kevin received a bullet in the post during discussions over a merger with Quinn Building Products. The talks were halted days later, but go to show the firm's existing desire to strengthen its position by buying or merging with other firms.
Mivan on the other hand, has been racked by financial troubles in recent years, reporting over £40 million in losses since 2009, thanks to bad property debts. Its day-to-day business is in a good position, however.
It has changed direction after the housing crash to focus on fit-out, and is currently just finishing work on updating Heathrow Airport terminal 2.
__________________________________________________________________________
Related information:
J Hughes Construction in administration
Construction business sold for £1
This well-established scrap vehicle yard in Essex offers a unique opportunity to acquire a business with a significant stock of decommissioned parts and panels, alongside essential equipment such as forklifts and heavy demolition plant.
Opportunity to acquire a well-established engineering product and equipment distributor located in the heart of the West Midlands.
Presenting an exceptional opportunity to acquire a well-established specialist joinery business located in Southport, Merseyside.
01
|
Jul
|
PE-backed accountancy swoops for 65-strong East Midlands firm | BUSINESS SALE
Private equity-backed accountancy Duncan & Toplis has acquir...
01
|
Jul
|
Manchester-based aerospace firm rescued with pre-pack deal | BUSINESS SALE
B&H.PT Limited, a Manchester-based aerospace manufacturer, h...
01
|
Jul
|
Seafood and pork supplier acquires food manufacturing business | BUSINESS SALE
Sofina Foods Europe, a North Yorkshire-headquartered supplie...
13
|
Jan
|
Construction company Mivan enters administration | ADMINISTRATION
One of Northern Ireland's most well-known construction ...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.