Thu, 09 Nov 2023 | BUSINESS SALE
AVRS Systems, a specialist mechanical, electrical, instrumentation, control and automation (MEICA) design and build contractor serving the water industry, has been acquired by listed construction group Galliford Try. The deal is valued at up to £7 million, with an initial consideration of £4.5 million financed from the group’s existing cash resources.
If the maximum consideration is met, the deal would represent close to a 5.4x multiple of AVRS Systems’ pre-tax profits of £1.3 million for last year, with the company generating revenue of £7.9 million. At the time, the company’s gross assets were valued at £3.8 million.
AVRS Systems was founded in 1972 and operates out of premises in Cumbria, Warwickshire and Middlesborough. The company, which employs close to 100 staff, holds long-term frameworks with several key water sector clients, as well as the MoD and the Coal Authority. In the energy sector, the company also has long-term client relationships providing in-house design, supply, installation and commissioning services of MEICA.
The company’s operations are closely aligned with Galliford Try’s existing business, with the acquisition also representing a continuation of the group’s strategy of development in adjacent markets. AVRS’s capabilities will complement its growing environmental operations, whilst also accelerating the growth of the group’s asset optimisation and maintenance strategy.
Commenting on the acquisition, Galliford Try Chief Executive Bill Hocking said: "I am delighted to welcome AVRS to Galliford Try. We have said that we will continue to consider bolt-on acquisitions to accelerate our strategy and this acquisition increases our capabilities in the environment business and bolsters the group's capital maintenance credentials.”
"AVRS brings highly complementary skills into the group which will further advance our sustainable growth strategy."
Read about how environmental and sustainability concerns are becoming central to many M&A strategies
Well-established civil engineering and waste management company trading since 2009. The business is consistently profitable and benefits from recurring revenue from longstanding clients.
This well-established business, that has been operating for nearly 30 years, provides out-sourced M&E maintenance services for the industrial, commercial, and domestic sectors. Overall, it offers engineering consultancy, mechanical maintenance, preci...
Opportunity to acquire a superbly established commercial heating engineering company located in Birmingham.
12
|
Jul
|
Assets to be sold as Warwickshire caravan dealer falls into administration | ADMINISTRATION
A caravan dealer headquartered in Warwickshire has fallen in...
12
|
Jul
|
Business management consultancy completes latest acquisition | BUSINESS SALE
Business management consultancy EMB Group has completed its ...
12
|
Jul
|
South West burger chain acquired out of administration | BUSINESS SALE
A burger chain with restaurants across the South West of Eng...
12
|
Oct
|
Buyers pounce on NMCN businesses and assets | ADMINISTRATION
Buyers have been pouncing on the business and assets of NMCN...
07
|
Jan
|
Galliford Try completes sale of housebuilding business | DIVISION SALE
Galliford Try has completed the sale of its housebuilding bu...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.