Van Elle buys loss-making piling firm in £3.8m deal

Van Elle, the Nottinghamshire ground engineering contractor, has bought Rock and Alluvium, a piling specialist, in a £3.8m deal.

Based in Leatherhead, Rock and Alluvium was established in 1963, joined Galliford Try in 1989, and has built a strong reputation primarily serving the residential and commercial sectors in London and the South East.

Rock and Alluvium will be integrated within Van Elle’s General Piling Division.

Van Elle has also entered into a five-year trading agreement with Galliford Try under which Van Elle will provide piling and geotechnical services. Van Elle says the deal will generate revenues of over £10m a year.

For the year ended 30 June 2023, Rock and Alluvium generated revenues of £15.5m and a loss of £200,000.

The deal is expected to complete in mid-November.

Mark Cutler, chief executive of Van Elle, said:“I am delighted to announce the acquisition of Rock and Alluvium and our trading agreement with Galliford Try, which I am confident will deliver positive benefits for both parties. This deal accelerates our expansion into London and the South East, by bringing a highly regarded business and team into the Group with a proven track record, a strong order book and a well invested fleet.

“This follows the acquisition of ScrewFast Foundations in 2021. Theboard has been very disciplined in reviewing acquisition opportunities in the intervening period to ensure they will support the delivery of our growth strategy. I believe that Rock and Alluvium will prove to be an excellent addition to the Group.

“I look forward to welcoming the management team and all Rock and Alluvium employees to Van Elle.”