Dutch investment giant HAL – which also owns marine contractor Boskalis – has agreed terms on a deal to buy the Netherlands-based operations of VolkerWessels, which last year delivered €3.6bn of turnover and €217m in operational profit.
Current owner Reggeborgh will hang onto the UK, German and North American arms of the VolkerWessels business following completion of the transaction.
A HAL spokesperson said: “The completion of the transaction is subject to due diligence and other customary conditions for such transactions, including approval by the relevant competition authorities and consultation with the relevant works councils.”
The UK arm of VolkerWessels reached £1.4bn turnover in last published results for 2023 and generated a pre-tax profit of nearly £39m.
Its five main businesses – VolkerFitzpatrick, VolkerRail, VolkerStevin, VolkerHighways and VolkerLaser – will continue to operate under Reggeborgh control.
The firm has not yet commented on future group strategy.
