Construction News

05/12/2014

Interserve Buys Esg For £25m

Construction group Interserve has acquired the Employment & Skills Group (esg), for £25m.

Esg is one of the UK's largest private sector providers of training and employment services for Government and employers and also provides vocational training in three new Further Education colleges in Saudi Arabia under the Kingdom's Colleges of Excellence programme.

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The transaction is being funded from within Interserve's existing debt facilities and is expected to be accretive in 2015.

Adrian Ringrose, CEO of Interserve, said: "We are pleased to have furthered our strategy by acquiring one of the UK's leading skills and welfare providers, expanding our scale and breadth in these critical front-line public services markets, both in the UK and in Saudi Arabia and are delighted to welcome some 700 new colleagues to the Interserve Group."

(CD/JP)

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