Bouygues Bâtiment International Takes 100% Ownership of Leadbitter03-07-2012
The Bouygues Construction subsidiary Bouygues Bâtiment International has taken 100% ownership of the Leadbitter Group after purchasing the remaining 49% from the Leadbitter management team.
Bouygues Bâtiment International took a 51% stake in the Leadbitter Group in March 2011 from Dutch parent Heijmans NV after recognition of the company’s strong reputation and its track record in construction delivery. It also provides numerous sector and geographical synergies to the Bouygues group’s existing UK construction and development subsidiaries Bouygues UK, Warings, Thomas Vale and Bouygues Development.
The Leadbitter Group, which consists of Leadbitter and Denne, employs 700 people and recorded a turnover of £428 million in 2011. With headquarters close to Oxford, the company specialises in construction, particularly in the housing sector, and operates over a vast area across south England and south Wales. The group is well recognised in the construction industry and has achieved considerable success in recent years including securing deals on numerous active framework agreements.
The Directors of the Leadbitter Group will retain important operational roles within the business.
Since acquiring 51% of Leadbitter in 2011, Bouygues’ UK construction entities have benefitted from Leadbitter’s strong regional presence in Southern England and Wales, established reputation in the housing sector, longstanding strategic client relationships and robust framework agreements. In turn, Bouygues Construction has provided Leadbitter with the increased financial strength, technical expertise and development capabilities to strengthen its commercial position.
Bouygues Construction’s presence in the UK now includes numerous companies specialising in all types of building including schools, housing, healthcare, tunnels and civil works, as well as building services and maintenance and concessions.
Olivier-Marie Racine, Deputy CEO of Bouygues Construction and Chairman of Bouygues Bâtiment International, said: "Thanks to the talent and commitment of Bob Rendell and his management team, Leadbitter is a solid and well managed company with an established reputation and robust client base. Acquiring 100% of the company is a great reflection of the company’s successful integration into the Bouygues group.
Madani Sow, Chairman of Bouygues UK, Warings and Bouygues Development, said: “Leadbitter is an important addition to Bouygues in the UK, providing us with valuable access to sectors and geographies that complement our existing offering. It’s fantastic to have reached this key milestone in the development of our UK expansion programme.”
Bob Rendell, Leadbitter Group Chief Executive, said: “I am delighted that we have completed this transaction and placed the ownership of the Leadbitter Group within such a financially robust and forward-thinking construction business. This provides the staff of Leadbitter with a very exciting and secure future and will allow us to drive the Group forward as part of a wider operating platform in the UK.”