The deal is subject to approval by the European Commission competition authorities.
Established in 1869, Thomas Vale expects to generate a turnover of just over £200 million for the 2012 financial year end (March 2012), and employs over 700 people. With a Head Office in Worcestershire and regional offices in central Birmingham, the company has a well-established client base across central England.
Thomas Vale specialises in new build and refurbishment within both the public and private arenas including the retail, office and leisure sectors, and has a proven track record in housing and regeneration through its long-term public sector partnerships. The company’s solid growth and successful delivery of projects has resulted in considerable recognition throughout the construction industry, which includes winning the Construction News 'Judge’s Supreme Award' three times in recent years.
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This is a significant acquisition for Bouygues Bâtiment International's expansion programme in the UK, providing it with access to a buoyant geographical region that complements the Bouygues Construction Group’s existing subsidiaries in London, the South East, South West and Wales, namely Bouygues UK, Warings, Leadbitter, Denne and ETDE. Thomas Vale will benefit from the technical capability and commercial expertise of a global construction group with an unwavering commitment to UK growth.
Olivier-Marie Racine, Deputy CEO of Bouygues Construction and Chairman of Bouygues Bâtiment International, said: "Thomas Vale is a company with an impressive performance history, solid strategic partnerships and a strong heritage in the Midlands. This is an important region of England for the Bouygues Group and a great addition to our UK portfolio."
(CD/GK)
