Kier Acquires Stewart Milne Construction Operation

KIER ACQUIRES ABERDEEN-BASED STEWART MILNE CONSTRUCTION OPERATIONS

Kier has today acquired certain construction operations of Aberdeen-based Stewart Milne for a total cash consideration of £1m paid on completion. This latest move will see approximately 20 personnel transfer to Kier, together with contracts in progress valued at approximately £15m and a pipeline of potential future work valued at approximately £20m.

The business will operate from Aberdeen as part of Kier Group's regional network of UK construction businesses, initially using the name Kier Milne.

Kier Group chief executive Paul Sheffield commented: "I am delighted that this acquisition has concluded successfully and welcome the Stewart Milne team to Kier. We are keen to grow the business and our new base in Aberdeen should provide further, good opportunities for expansion in Scotland and the North-East."

Contacts

Paul Sheffield, Chief Executive, Kier Group 01767 640 111

Faeth Birch, RLM Finsbury 020 7251 3801