VINCI strengthens position in the UK by acquiring Taylor Woodrow Construction
9 September 2008 - Acquisitions - United Kingdom
VINCI PLC, the British subsidiary of VINCI Construction, has reached agreement with Taylor Wimpey PLC on the acquisition of Taylor Woodrow Construction, one of its divisions.
Taylor Woodrow generated revenue of about £600 million in 2007, with operating profit of £17.8 million. The company has three main areas of activity (building, infrastructure and facilities management) and most of its revenue comes from recurring business within the framework of PPP contracts, in particular in the rail, airport and energy infrastructure sectors, as well as in healthcare and education.
This transaction consolidates VINCI’s position in the UK in PPPs and facilities management, and it strengthens its customer portfolio in growth sectors of activity.
The acquisition of Taylor Woodrow was agreed on the basis of a price (equity value) of £74 million.
VINCI PLC, a subsidiary of the VINCI Group, has 2,900 employees in the United Kingdom and generated 2007 revenue of £774 million.
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.