Construction News

05/10/2017

Balfour Beatty Sells US Business For £42m

Balfour Beatty has announced the sale of its US engineering and programme management firm, Heery International, for £42 million.

A deal has been reached with a subsidiary of commercial real estate giant CBRE Group to buy the business.

The agreement lifts a constraint on Balfour Beatty, where in certain US markets acting as Programme Manager on a contract precludes a company from bidding as General Contractor due to perceived conflicts of interest.

-- Advertisement --

In addition, the company can now partner with Heery on a wide range of potential projects in the future.

Leo Quinn, Group Chief Executive, said: "We continue to focus and strengthen the Group in our chosen markets. This transaction is another example of maximising shareholder value at the appropriate time and value, while improving our strategic position. We look forward to continuing our strong working relationship with CBRE."

(LM)

News Archive

Latest Construction News

18/11/2025

Willmott Dixon Appointed To Deliver £136m Regen...

Willmott Dixon has been appointed to deliver The Stage, a £136 million mixed-use regeneration scheme set to transform Luton town centre. The project, secured through the Southern Construction Framework (SCF), is a central pillar of the Luton Town Centre Masterplan and is supported by £20 million f

18/11/2025

National Grid Seeks Views On Weston Marsh Subst...

National Grid has invited local residents to comment on detailed plans for two new substations and associated overhead lines at Weston Marsh, near Spalding. The scheme forms part of the Grimsby to Walpole project, a 140km electricity connection linking northeast Lincolnshire and north Norfolk under

18/11/2025

Costain Secures Five-Year EDF Nuclear Project C...

Costain has secured a new five-year framework from EDF to continue delivering project controls services across the energy company’s eight nuclear power stations in the UK. The Project Controls Resources Framework extension is worth £75m to Costain over five years and takes the partnership through t

18/11/2025

Whitbread Fast-Tracks Phoenix House Into 180-Ro...

Whitbread has begun work to turn Phoenix House in Vauxhall, London, into a 180-bedroom Premier Inn, just eight months after agreeing a lease for the site. The prominent 10-storey, 7,469 sq m former office building, opposite Vauxhall Underground Station, is being taken forward as part of Whitbread’s

18/11/2025

£18.4m Homes England Deal Signed For Plymouth C...

The largest element of funding needed to overhaul Plymouth’s Civic Centre has been secured, following the signing of a major grant agreement. Homes England, the government's housing and regeneration agency, signed a £18.4 million grant funding deal with Plymouth City Council. The agreement begins

18/11/2025

Construction Set For 2026 Rebound After 2025 Slump

UK construction activity was forecast to recover over the next two years after a difficult 2025, with Glenigan anticipating an 8% rise in the underlying value of project starts in 2026 and a stronger 13% uplift in 2027. The outlook pointed to gains across housing, offices and industrial schemes, a

18/11/2025

G F Tomlinson Lands Triple Win At National Fede...

Midlands contractor G F Tomlinson celebrated a hat-trick at the National Federation of Builders’ Construction Awards of Excellence in Birmingham, securing titles for Rising Star, Innovation in Construction Technology, and the Remarkable Heritage and Conservation Project. The NFB's annual awards rec

18/11/2025

Ion Glass Awarded Contract At St George's Tower...

Plans have been in progress to transform a number of Canterbury's public spaces to reflect its heritage status as an international visitor destination and World Heritage Site. St George's Tower clock tower has been in the heart of the City for centuries – currently it is all that remains of a for

18/11/2025

Portable Building Sales Launches New Range Of P...

Portable Building Sales, one of the UK's leading suppliers of modular and portable buildings, has officially launched a new range of portal frame buildings designed for heavy-duty use in industrial, agricultural and aviation environments. Manufactured by Dutch specialists J.Snoei B.V. and now exclu

18/11/2025

Vibration Isolation Takes Centre Stage At Londo...

Mason UK to showcase floating floors, acoustic hangers and pipe connectors. Mason UK will be exhibiting at London Build 2025, taking place at Olympia London from 19–20 November, where the company will showcase its latest