Acquisition by VINCI plc of Taylor Woodrow creates £1.4 bn turnover Construction and FM company

Sep 10 2008

VINCI PLC has acquired Taylor Woodrow Construction, one of the UK’s leading companies in construction and facilities management (FM).  The acquisition will give VINCI PLC a projected annual turnover of £1.4 billion and an order book of circa £1.4 billion.

Commenting on the acquisition, John Stanion, VINCI PLC’s Chairman and Chief Executive said: “The acquisition of Taylor Woodrow (the construction business) is a significant step in our strategy of developing our presence in the rail and energy infrastructure and FM markets in the UK and expands our regional building activities in health, education, retail and airports as well as increasing our portfolio of PFI and PPP activities.  The name Taylor Woodrow is synonymous with client focused innovation and project and programme management of the highest order.  We are delighted to combine our two businesses into what we intend to become one of the most proficient construction groups in the UK.”

Tim Peach, Managing Director of Taylor Woodrow, responded by saying:  “The acquisition concludes a thorough and fully co-operative period of due diligence, during which time it became increasingly apparent that the acquisition of Taylor Woodrow (the construction business) by VINCI PLC made good business sense.  The combination of our two businesses will create a company with complementary areas of operation and expertise, thereby providing added value for our customers and greater opportunity for our teams.  I look forward to working with John to move the business on to a completely new level of excellence.” 

Taylor Woodrow and Norwest Holst, which forms the major part of VINCI PLC, are both highly regarded and successful companies that were set up at around the turn of the last century.  Following the acquisition, both businesses will retain their existing names.

For further information, please contact:

Melanie Mathews, Public Relations Manager, VINCI PLC on 01923 233433 or 01923 470435 (direct)

Notes to the Editors

VINCI PLC

VINCI PLC has 2,900 employees and had a turnover in 2007 of £774 million with an operating profit of £20 million.  VINCI PLC forms part of VINCI, the world’s leading concession and construction group.  VINCI has a turnover of €30.4 billion and employs 158,000 people in 90 countries around the world.

VINCI PLC is made up of a number of specialist subsidiaries operating throughout the UK which offer a comprehensive construction package from inception, through ground investigation and remediation, to completion of the project and beyond to the maintenance of the facility.

Taylor Woodrow
 
Employing circa 1,700 people, Taylor Woodrow had a turnover in 2007 of c. £600 million with an operating profit of £17.8 million.  Its activity, structured around a number of long term PPP and PFI contracts, is divided into three sectors including rail infrastructure, facilities management and non-residential construction.