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Skanska UK buys McNicholas
Skanska UK plc, the UK division of the third largest construction services group in Europe, has bought utilities, highways and transportation services group McNicholas Holdings plc for £50 million.
“The acquisition of McNicholas is part of our strategy to grow and develop our UK utilities and infrastructure services business,” David Fison, Skanska’s UK chief executive, said.
Skanska was advised by Addleshaw Goddard, led by partner Sean Lippell and corporate finance legal director Gavin Maddison.
Lippell said the deal was complex with competition, pensions, employment, tax and environmental issues that required detailed consideration. “The acquisition of McNicholas will add complementary specialist construction and servicing businesses focusing on the utilities, highways and transportation fields.”
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