Balfour Beatty Acquires Covion

Balfour Beatty Plc announced on Thursday that it acquired integrated facilities infrastructure services business, Covion Ltd, from its management and private equity investors, for £33 million.

After the takeover, Covion will become part of Haden Building Management or HBM, Balfour Beatty existing facilities management division. The acquisition is expected to strengthen HBM's presence in the fast-growing facilities management market.

Covion was founded in 2000 and is based in Theale, near Reading and has 600 employees. It provides technology, property, people and facilities management services to the manufacturing facilities and corporate business sectors.Customers include Logica CMG, Anglian Windows, Britvic and Tate and Lyle.

Ian Tyler, chief executive of Balfour, said: “This is an important step in increasing our penetration of the private sector facilities management market and in broadening and deepening our range of expertise in technology, property and people services.”

David Steventon, Chairman of Covion, said:“We are delighted to have found in Balfour Beatty an ideal partner to continue to expand the range and depth of services that we can provide to the market. The value of our market integrated approach is being recognised by an increasing number of blue chip customers.”