KIER GROUP PLC
Completion of the acquisition of Mouchel
Following its announcement on 28 April 2015, Kier Group plc ("Kier"), the integrated property, residential, construction and services group, is pleased to announce that, on 8 June 2015, it completed the acquisition of the entire issued share capital of MRBL Limited ("Mouchel").
Mouchel is an international infrastructure and business services group. It provides advisory, design, project delivery and managed services to the highways and transportation, local government, property, emergency services, health, education and utilities markets in the United Kingdom, the Middle East and Australia. It is the leading provider of repair and maintenance services to the UK strategic road network.
As stated at the time of the announcement of the acquisition, the Board believes that the rationale for the acquisition is compelling and aligned to Kier's "Vision 2020" strategy, representing an excellent opportunity to accelerate Kier's plans for growth in the infrastructure sector.
Kier's chief executive, Haydn Mursell, commented: "The successful acquisition of Mouchel now positions Kier as a sector leader in the growing UK highways maintenance and management market. In particular, the acquisition enables the Group to capitalise on £17 billion of investment in the strategic road network to be delivered through Highways England over the next five years, whilst also accelerating the delivery of Kier's "Vision 2020" strategy."
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For further information, please contact:
J.P. Morgan Cazenove (Joint Financial Adviser, Joint Sponsor, Joint Bookrunner and Joint Broker to Kier) |
+44 (0) 20 7742 4000 |
Robert Constant Christopher Dickinson Laurene Danon |
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Numis Securities (Joint Financial Adviser, Joint Sponsor, Joint Bookrunner and Joint Broker to Kier) |
+44 (0) 20 7260 1000 |
Heraclis Economides Christopher Wilkinson Richard Thomas Finsbury |
+44 (0)20 7251 3801 |
Kier Press Office |
+44 (0) 1767 355903 |
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