VINCI acquires PEL in England
12 July 2006 - Acquisitions - United Kingdom
Norwest Holst Limited, a VINCI subsidiary, has recently acquired a number of operating assets and the trading name of the company Pel Group Limited, set up in 1930, which specialises in interior fittings for retail stores.
The assets acquired represent full-year sales of close on £50 million and a workforce of around 100 people. Pel's largest clients include Marks & Spencer, House of Fraser and BAA. The company recently completed fitting out 260 VIP boxes at the Ascot racecourse.
This acquisition dovetails with VINCI's development strategy in the United Kingdom, which focuses on specialty businesses such as fitting out shopping centres, an activity in which VINCI is already represented through its subsidiary Crispin and Borst.
VINCI PLC is active throughout the country, primarily via its subsidiary Norwest Holst, a major construction player in the United Kingdom. In 2005, VINCI PLC posted sales of €938 million and employed 2,680 people.
VINCI is a global player in concessions and contracting, employing more than 222,000 peoplein nearly 120 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, above and beyond economic and financial results, we are committed to operating in an environmentally and socially responsible manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. VINCI’s goal is to create long-term value for its customers, shareholders, employees, and partners and for society at large.