Engineering group sells £2.75m construction company
RENEW, the engineering services group, has completed the sale of construction firm Allenbuild.
The business sold Allenbuild to residential developer Places for People Group.
Related: Renew sells Allenbuild business…
The full transaction was for £2.75m, with the second half of the payment made yesterday.
Initially announced in November 2014 ,the conditions of the sale were that Allenbuild complete 10 outstanding contracts before PFP would acquire 100% of the business.
PFP is one of the largest property and leisure management, development and regeneration companies in the UK. It owns or manage 148,000 homes and has assets in excess of £3bn. It has Yorkshire-based offices in Leeds, Hull, Sheffield and York.
Walker Morris and Grant Thornton were involved in the sale.
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