Enterprise plc acquired for £385m
Madrid-based Ferrovial has purchased Enterprise plc in a deal worth £385m, six years after it was taken private by 3i for £700m.Enterprise, a top three Lancashire Business View Fab 500 company, operates out of Leyland and employs 9,900. The company provides maintenance and front-line services to the public sector and utility industry.
The acquisition strengthens Ferrovial's footprint in the UK services sector, doubling its presence in the country where it operates under the name Amey.Enterprise will be integrated into Amey to create a company of more than 21,000 employees, with revenues in excess of £2.3bn pounds and a combined order book of £8.2bn. The integration will save £40m in costs.
“This acquisition fits with our strategic objective of profitable growth through selective acquisitions and it enables us to expand our services business,” said Íñigo Meirás, CEO of Ferrovial. “The deal will strengthen the operations currently conducted via Amey.”Ferrovial has been operating in the UK since 2000. It currently operates through its construction, services and airports divisions.
Amey, acquired by Ferrovial in 2003, is a major player in the UK market in services to transport and social infrastructure. It works with public and regulated clients in a range of sectors, including justice, aviation, central government, education and transport. It has over 11,000 employees.Ferrovial Services will appoint Mel Ewell, current CEO of Amey, as CEO of the newly combined company once the transaction is completed.