Van Elle buys piling rival Rock and Alluvium for £3.8m

Aaron Morby 1 year ago
Share

Ground engineering contractor Van Elle has struck a deal to buy Galliford Try-owned piling specialist Rock and Alluvium for up to £3.8m.

Galliford Try offloads loss-making piling business
Galliford Try offloads loss-making piling business

The deal will strengthen Van Elle in the South East and bolster the piling fleet with 11 more piling rigs.

Van Elle will make an initial payment of £1.8m, and a deferred consideration payment of £2m subject to completion accounts, payable 12 months from completion.

Based in Leatherhead, Rock and Alluvium generated revenues of £15.5m in the year to June but dipped £200,000 into the red. Its assets stand at £3.7m and it employs around 60 staff.

Rock and Alluvium was established in 1963 and joined Galliford Try back in 1989. Since it has built a strong reputation primarily serving the residential and commercial sectors in London and the South East.

Van Elle has also entered into a five-year trading agreement with Galliford Try under which Van Elle will provide piling and geotechnical services . This should generate revenues in excess of £10m per annum alone.

The acquisition is expected to complete in mid-November 2023.

Mark Cutler, chief executive of Van Elle, said: “This deal accelerates our expansion into London and the South East, by bringing a highly-regarded business and team into the group with a proven track record, a strong order book and a well invested fleet.

“This follows the acquisition of ScrewFast Foundations in 2021.

“The Board has been very disciplined in reviewing acquisition opportunities in the intervening period to ensure they will support the delivery of our growth strategy. I believe that Rock and Alluvium will prove to be an excellent addition to the group.”

 

Latest news

Fall in office and housing activity dents industry output

Confidence fragile after 0.2% dip in output for second month
1 day ago

Cat deal sees Flannery plant investment top £100m this year

Leading plant hirer continues to invest in fleet
1 day ago

Lendlease OK’d to start Birmingham’s £1.9bn Smithfield scheme

First phase of 400 build to rent homes at Manor Square approved
1 day ago

Fresh plan for £170m Newcastle resi tower and hotel

Gainford Group scales down New Bridge Street scheme to 29 storeys
1 day ago

Berkeley warns over-regulation a drag on planning reform gains

House builder joins calls for urgent Gateway 2 building safety regulator reform
1 day ago

Mace confirmed for £140m Gatwick Airport Pier 6 extension

Contractor PJ Hegarty has started enabling works in middle of busy airport
2 days ago

Cost of M3 upgrade soars by £70m

Budget for VolkerFitzpatrick/Balfour Beatty road job jumps to £280m
1 day ago

Graham takes on ISG £45m Coventry cultural hub job

Firm will start conversion work in the Spring on former IKEA store
2 days ago

Alun Griffiths to “restructure and resize” after £95m loss

Redundancies due to be announced at Welsh civils contractor
3 days ago

Fire safety project approval delays hit Van Elle profits

Piling specialist also reviews future of Canadian operation amid fresh economic uncertainty
2 days ago

JRL Malaysian backers plan £150m London city office refurb

Ardmore set to deliver landmark 25 Finsbury Circus building overhaul
2 days ago

500-home block to replace 19 storey Sutton office tower

Landmark project to deliver 312 Build to rent and 195 co-living homes
2 days ago

Building envelope specialist Bailey buys Comar

Specialist now offers complete building envelope solutions
2 days ago

Subcontractors wanted for work across Wales

Big name buyers at latest Constructionline event: Register now
2 days ago

Balfour Beatty profit dented by £83m building safety hit

Increased order book at £18bn secures growth over next two years
3 days ago

Expanding utilities specialist Ipsum buys Matrix Power

Power engineering contractor takeover will strengthen offer in North East
3 days ago

Historic scaffolding firm files administration notice

Hertfordshire based Rodells has been trading since 1898
3 days ago

Planning Bill to have “seismic” impact on construction

Building-boosting reforms go before Parliament
4 days ago

Briggs & Forrester hits record revenue and orders

M&E specialist rebounds with strong growth across three divisions
3 days ago

Man Utd confirm plan for £2bn ‘super-tent’ stadium

Club to press ahead with 100,000-seat 'Wembley of the North'
4 days ago

Government spending keeps profits edging-up at Kier

91% of work now with public sector and regulated companies
4 days ago

Costain on track for step change to 5% margin

Alex Vaughan says order book has jumped £1.5bn to £5.4bn
4 days ago

Mace tops February contracts league

Confirmation of £300m London Victoria Street project lifts firm to pole position
4 days ago

Wates raids Laing O’Rourke for new construction operations chief

George Mosey leaves Laing O'Rourke after 16 years
5 days ago

Travis Perkins CEO Pete Redfern steps down due to ill health

Redfern joined builders' merchant last year after 14 years at Taylor Wimpey
5 days ago

Morgan Sindall wins £61m Liverpool lab scheme

Construction to start this Autumn on latest Knowledge Quarter project
4 days ago

Glencar to build timber-framed office block

Work to start next month on 79,200 sq ft scheme in Maidenhead
5 days ago

Shed specialist Marbank files administration notice

£67m turnover portal-framed building specialist files court notice
5 days ago

Birmingham council submits £1bn Druids Heath plan

High rise estate to be replaced by-3,500 home eco village
5 days ago

Cannabis farm gang posed as utilities contractor

Gang jailed for 28 years after diverting power to more than 100 cannabis farms
1 week ago

Contractor services