Most of Quickseal’s contracts and workers have now transferred to VolkerLaser following the £300,000 deal.
The acquisition is part of VolkerLaser’s plans to expand its mainly civil engineering based portfolio into the construction, rail and London Underground markets.
Mike Weaver, managing director of VolkerLaser, said: “Whilst it is a sad day when smaller companies like Quickseal have to make the tough decision to end their struggle against the existing market conditions, it is our intention that we retain the majority of staff and also honour the contracts held with long term clients.
“It is also an excellent opportunity for VolkerLaser to realise its expansion plans.
“VolkerLaser and Quickseal work in similar sectors and in some cases the same sectors. What this asset transfer will do is provide VolkerLaser with additional skills and experience in the building/construction side of the market, where our existing portfolio concentrates on the civil engineering market.”
Alan Robertson, chief executive of VolkerWessels UK, added: “Investment in the UK construction market is undertaken with much greater caution than previously, but we believe that Quickseal has excellent credentials to build on.
“The lower overheads we can offer as a group in the UK, as well as our economies of scale and buying power, will provide a solid base for the business to prosper further.
“The new skills and a wealth of experience will also add value to the existing specialist knowledge within the VolkerLaser business.”