Wates Group has announced an agreement for the acquisition of Shepherd Groups Built Environment businesses.

Shepherd will sell its Engineering Services and facility management company, Shepherd FM.

Wates will also obtain a significant number of contracts and frameworks as part of the deal.

David Williams, Chairman of Shepherd said: "The Shepherd Group Board recognises that Shepherd Construction needs scale in order to capitalise on its full potential and the market opportunities arising out of its acknowledged technical capability.


"Our aim is to ensure the best possible future opportunity for all our businesses – and that includes Shepherd Construction, Shepherd Engineering Services and Shepherd FM."

Andrew Davies, Chief Executive of Wates Group, said: "The acquisition of Shepherd Construction’s capability, Shepherd Engineering Services and Shepherd FM would complement and enhance our existing Construction and Property Services businesses, with access to additional areas of expertise in off-site construction, design for manufacture and assembly operations and expansion in new markets into the North of England."

(LM)