Kier Acquires Mouchel For £265m

Kier is to acquire Mouchel in a deal worth £265 million.

It is understood the agreement follows Mouchel's growth during the previous three years, with a profit of £27.7 million on a turnover of £617 million in the financial year ending September 2014.

Revenues for the previous three months have increased by 38% compared to the same period in the previous year.


The transaction process is expected to take five weeks and aims to be completed in June.

Grant Rumbles, Mouchel's Chief Executive, will stand down on completion of the transaction. The CEO of Kier, Haydn Mursell, will become CEO of the expanded group.

Mr Mursell said: "The combination of Kier and Mouchel, particularly in the provision of UK highways maintenance services, creates a leader in a growing marketplace."

(LM/CD)