Carillion Agrees Deal To Take Over Alfred McAlpine

Carillion has agreed a £572million deal to take over Alfred McAlpine creating the UK’s largest contracting business with a turnover of around £4.7billion.

A press release suggested that the deal would create a leading support services group serving both public and private sector customers and enhance the capability to provide integrated solutions due to the complementary skills of Carillion and Alfred McAlpine in private finance, design, construction, maintenance and support services

It is also expected to that the take over will achieve an annual running rate of cost savings of £30 million by the end of 2009.

Commenting on the Acquisition, Philip Rogerson, Chairman of Carillion said:
“The acquisition of Alfred McAlpine represents a further step in Carillion's development and its successful strategy for sustainable and profitable growth. There is an excellent strategic fit between the two companies and the combined group will be one of the UK's leading support services businesses with enhanced capabilities in providing integrated solutions and construction services. We are confident this transaction can deliver significant value for the shareholders of the Enlarged Group.'

Roger Urwin, Chairman of Alfred McAlpine said:'Over the past five years we have repositioned Alfred McAlpine into a valuable support services group, with leading positions in a number of growth markets. Carillion's offer recognises this value and gives our shareholders, employees and customers the opportunity to share in the future success of the Enlarged Group.'