Balfour Beatty Acquires Dean & Dyball

Contractor Balfour Beatty has acquired Dean & Dyball, a civil engineer and contractor operating in the south of England and Wales for £45m in cash . The acquisition is expected to be earnings enhancing in the first year of ownership.

Balfour said the deal was in line with it establishing a strong presence in the southern England. Chief executive Ian Tyler said: “This transaction establishes a strong civil engineering base in an area where we currently have only a limited presence and adds further capability in the building sector.”

Hampshire-based Dean & Dyball turned over £262m in the year to 30 September 2007 with a pre-tax profit of £4.5m.The company is understood to have been on the market since January, prompted to sell quickly before changes to Capital Gains Tax laws on 6 April.

After that date individuals will be subject to a flat rate of 18% on chargeable gains as opposed to a previous maximum of 10%.It is understood Vinci had also looked at the company but decided against the purchase due to a regional overlap in Kent.