Construction firm Costain buys maintenance outfit May Gurney
Costain shareholders will own 53 per cent of the combined group – which will be known as Costain May Gurney – while May Gurney investors will retain 47 per cent.
The joint business will turn over about £1.6 billion a year and will have an order book worth some £3.9bn.
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Hide AdDavid Allvey, chairman of Costain, said: “We see this coming together of two established UK companies as good news for all our stakeholders.
“Our customers are increasingly demanding a broader range of integrated services and this powerful combination will enhance our status as a ‘tier-one’ engineering solutions provider.”
May Gurney bought engineering firm Turriff in 2011 for £13.6 million, while Costain took over Aberdeen-based oil and gas engineering advisory business ClerkMaxwell in the same year.