Amey's parent company, Ferrovial Services, has today announced that it has reached an agreement with international investor 3i to buy Enterprise plc. The deal is now subject to European regulatory approval and is anticipated to complete in early April when Enterprise will be integrated into Amey.

Enterprise offers a good strategic fit with Amey and our services across complementary markets including transport, justice, waste, facilities management as well as consulting and asset management.

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The benefits of the deal are:

•Enhanced capabilities in areas such as environmental services through adding Enterprise's waste collection and street cleansing to Amey's existing waste treatment capabilities

•Synergies and cost efficiencies through the sharing of best practice, procurement economies of scale and the extending of Amey's leading consulting and asset management capabilities to Enterprise clients

•Broader range of services through one provider which will maintain service quality whilst maximising efficiencies

•Wider geographic coverage - The complementary service locations of the two businesses will give the newly combined organisation a presence across almost every county in the UK

•Entry to new markets - The acquisition will also take Amey into new markets such as utilities, social housing and defence

On completion of the deal Amey's CEO, Mel Ewell, will be appointed as CEO to the board of the newly combined business.

(CD/GK)