Nottinghamshire engineering contractor expands Scottish presence with latest acquisition

Credit: Van Elle Holdings

Van Elle Holdings, a Nottinghamshire-based ground engineering contractor, has acquired Albion Drilling Holdings for £3.5m.

Founded in 1986 and headquartered in Stirling, Scotland, Albion is a specialist in piling and drilling.

The acquisition will enhance Van Elle’s footprint in Scotland and expand its capabilities in complex infrastructure projects.

Albion has built a track record in infrastructure projects across Scotland, offering quarry blasting, marine drilling, ground stabilisation and rock anchoring services.

Following the acquisition, Albion will integrate with Van Elle’s Specialist Piling division, which has a similar operating model.

The integration will include co-locating resources at the Stirling site, expanding Van Elle’s capabilities to address the demand for large-scale infrastructure projects in Scotland.

Van Elle has two ongoing energy infrastructure projects in Scotland and anticipates launching additional schemes in early 2025.

The acquisition involves an initial cash payment of £2.1m, funded by Van Elle’s existing cash reserves and its funding facility, along with £600,000 in new Van Elle shares.

If certain performance criteria are met, an additional payment of up to £800,000 may be made over two years.

Chief executive Mark Cutler said: ”The acquisition of Albion represents an exciting and important step towards the delivery of our growth strategy in the energy sector. It also broadens the group’s range of specialist capabilities and customer base. Albion is a highly regarded specialist contractor with complementary capabilities and an experienced workforce who will fit perfectly into the group’s operating structure. May I welcome Jim King our new Scotland director, and all Albion employees to the Van Elle Group.”

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