£40m civil engineering firm sold to global player
Loughborough-based Pendragon Holdings, which trades as CR Civil Engineering (CRC) has been sold to environmental, engineering and technical services provider, RSK Group (RSK).
CRC was formed in 2000 by Carl and Mandy Roberts. Today, it serves a range of blue-chip clients ranging from Tier 1 contractors, to the MOD and Network Rail. CRC has a turnover approaching £40m, employs 250 direct staff and 70 freelance contractors and operates from four locations in England and Wales.
RSK is a leading integrated environmental, engineering and technical services provider, comprising over 100 companies in the UK, Europe, the Middle East, Africa and Asia.
RSK chief executive officer and founder, Alan Ryder, said: “Work on large infrastructure projects is a particularly buoyant market and CRC has an excellent reputation in the industry. The addition of CRC will enable RSK to provide further comprehensive end-to-end solutions to our clients in the highways, rail, and infrastructure sectors. We anticipate that CRC will also have many synergies with business across the RSK group in associated work areas such as traffic management, earthworks, insitu testing and slope stabilisation work, which we are excited to explore.”
Smith Cooper Corporate Finance and Flint Bishop Solicitors advised on the deal.
John Farnsworth and David Crump of Smith Cooper provide corporate finance advice.
Corporate legal advice on the deal was provided to the sellers by partner Martyn Brierley and senior associate Will Bowler, whilst Andrew Stokes provided property advice.
Andrew Botham and Michelle Henley-Marshall of Botham Accounting, CRC’s auditors, provided taxation advice to the principal shareholders.
