Topic Business
Date 11 Oct 2021
Galliford Try, the parent group of Morrison Construction, is pleased to announce that it has acquired the Water business of nmcn, including Lintott, following administration of the company earlier this week.
Nmcn Water delivers water and wastewater projects for clients across the UK.
As part of the £1 million acquisition, circa 900 employees will join Galliford Try, including the senior management team of nmcn Water, who will report to Steve Slessor, MD of Galliford Try’s Environment business.
At their last audited accounts in December 2019, the nmcn Water segment generated operating profit of £7.6 million on turnover of £282.6 million. The gross assets of nmcn's water segment were £70.0 million as at 31 December 2019.
The acquisition of nmcn Water is consistent with Galliford Try’s recently published Sustainable Growth Strategy, which in the Environment business, targets growth through our existing business, while seeking out acquisition opportunities in existing and adjacent sectors.
The joining of the two businesses provides a great opportunity for both nmcn Water and Galliford Try. Key among those are:
- The combination of two skilled and capable teams strengthens the joint talent pool, during a period of growth.
- It is a complementary geographic fit that will generate significant revenue growth through established frameworks.
- It brings nmcn design and MEICA capabilities to Galliford Try which will further allow growth across our Environment business.
- Galliford Try has robust, mature systems and processes which will add value to nmcn’s operations.
Bill Hocking, Chief Executive of Galliford Try, said: “I am delighted to welcome the employees, clients and suppliers of nmcn Water to Galliford Try. This acquisition will accelerate the growth of our successful Environment business, providing work with new clients and increased capabilities. This is a very exciting time as we deliver our Sustainable Growth Strategy and I look forward to a bright future for our collective team.”