Deals in the offing.
Keir eyes Connaught Environmental
Published: 17 September, 2010
BEDFORSHIRE: Kier, the construction and support services group, is interested in buying the environmental division of its collapsed rival Connaught.
Paul Sheffield, Kier's chief executive, said he met Connaught's administrators, KPMG, last week and that Connaught Environmental "overlaps quite nicely with what we do".
Connaught collapsed into administration nine days ago after the failure of its social housing maintenance division. The bulk of its social housing contracts have been sold to Morgan Sindall and Mears.
Connaught Environmental, which maintains infrastructure and has annual revenues of around £50m, is not in administration. KPMG plans to sell the business, along with Connaught Compliance, but insisted it is in no rush to seal a disposal.