Member Article

Enterprise acquired in £385m Spanish deal

North West-headquartered firm, Enterprise, has been acquired for £385m by Spanish company, Ferrovial Services.

The services giant, which is based in Leyland, Lancashire, will be absorbed into its buyer’s UK operating company, Amey.

Madrid-based Ferrovial said it reached an agreement with international investor, 3i to acquire Enterprise in a bid to double its UK business and enhance its environmental services capabilities.

The Spanish company also said the deal will help accelerate its entrance into the utilities services market in Britain.

Once the transaction is confirmed by the European Commission, Enterprise will join with Amey to bring its total workforce to approximately 21,000 employees, with an excess of £2.3bn in revenue and an order book of £8.2bn.

Íñigo Meirás, chief executive of Ferrovial, commented: “This acquisition fits with our strategic objective of profitable growth through selective acquisitions and it enables us to expand our Services business. The deal will strengthen the operations currently conducted via Amey.”

Amey was acquired by Ferrovial in 2003 after starting out in the UK in 2000. It now has more than 11,000 employees and works with clients in a range of sectors including justice, aviation, and education.

Ferrovial Services chief executive, Santiago Olivares, said: “The acquisition of Enterprise will create value through synergies derived from integrating it into Amey.

“The deal strengthens our position in markets with growth potential. In terms of client types, range of services and geographical footprint, the two companies are highly complementary and offer great potential to share resources.

“The newly combined company will have the capability to offer our clients added value integrated services in an efficient way.”

Mel Ewell, chief executive of Amey, will act as the chief of the newly combined firm once the acquisition is approved.

He said: “This acquisition will be pivotal for the UK marketplace, creating a business with the breadth and depth of service to respond to today’s market dynamics.

“Public and regulated clients are seeking radical reform in the shape of more efficient services which don’t compromise on quality or the service to the public.

“Our leading asset management and consulting capability, paired with Enterprise’s additional range of services, will ensure that the combined company can deliver a truly transformational service.”

This was posted in Bdaily's Members' News section by Miranda Dobson .