{"id":927,"date":"2018-11-28T09:40:17","date_gmt":"2018-11-28T09:40:17","guid":{"rendered":"https:\/\/cita.co.uk\/news\/?p=927"},"modified":"2018-11-28T09:40:17","modified_gmt":"2018-11-28T09:40:17","slug":"morrisroe-set-to-buy-cementation-skanska","status":"publish","type":"post","link":"https:\/\/cita.co.uk\/news\/morrisroe-set-to-buy-cementation-skanska\/","title":{"rendered":"Morrisroe set to buy Cementation Skanska"},"content":{"rendered":"

Concrete and groundworks\u00a0specialist Morrisroe Group is in advanced\u00a0talks to buy Skanska’s foundations business Cementation.<\/p>\n

Sources have told the Enquirer<\/em> that a deal could be sealed within weeks, with it rumoured to be worth around \u00a360m.<\/p>\n

As yet neither Morrisroe nor Skanska have officially commented on the talks.<\/p>\n

A deal would be a game-changer for the expanding specialist business founded by chief executive Brian Morrisroe in 1983, giving the group a foundations-to-frame solution for clients.<\/p>\n

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Skanska put the highly-regarded Cementation foundations business up for sale in May.<\/p>\n

Cementation Skanska remains a strong business with revenue last year of \u00a369m generating a profit of \u00a37.5m. It employs around 380 staff and it well set for major HS2 orders.<\/p>\n

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Morrisroe,\u00a0which employs around 200 staff, has been steadily growing in recent years and building up a\u00a0cash war chest.<\/p>\n

In the year to October 2017 revenue\u00a0jumped nearly a third to \u00a3214m generating a \u00a316m profit. This was delivered from major schemes like Tottenham Hotspur\u2019s new stadium and the Greenwich Peninsula redevelopment.<\/p>\n

Over last year cash doubled to \u00a368m.<\/p>\n

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It is understood a deal will include the transfer of Cementation Skanska’s Bentley Works (above<\/em>) site in Doncaster.<\/p>\n

Both Skanska and Morrisroe would not comment.<\/p>\n

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from Construction Enquirer https:\/\/ift.tt\/2PWBvXe<\/p>\n","protected":false},"excerpt":{"rendered":"

Concrete and groundworks\u00a0specialist Morrisroe Group is in advanced\u00a0talks to buy Skanska’s foundations business Cementation. Sources have told the Enquirer that a deal could be sealed within weeks, with it rumoured to be worth around \u00a360m. As yet neither Morrisroe nor Skanska have officially commented on the talks. A deal would be a game-changer for the […]<\/p>\n","protected":false},"author":1,"featured_media":150,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[9],"class_list":["post-927","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-construction-enquirer"],"_links":{"self":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/927","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/comments?post=927"}],"version-history":[{"count":1,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/927\/revisions"}],"predecessor-version":[{"id":928,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/927\/revisions\/928"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/media\/153"}],"wp:attachment":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/media?parent=927"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/categories?post=927"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/tags?post=927"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}