Galliford has paid £1m to acquire nmcn’s water business, in a move that positioned the firm for growth in a market that is expected to see significant investment in the coming years.
nmcn Water works with UK water utility companies to build and maintain water and wastewater treatment systems, but the company fell into administration earlier this week after having failed to sign off its 2020 accounts or secure new finance in the business.
“I am delighted to welcome the employees, clients and suppliers of nmcn Water to Galliford Try,” said Galliford Try chief executive Bill Hocking. “This acquisition is an excellent strategic fit with our existing business and will accelerate the growth of our successful Environment division, providing work with new clients and increasing our capabilities.”
The UK water sector is expected to see significant growth in investment in the coming years as the industry is driven to deliver more renewal and maintenance contracts through regulator Ofwat’s Direct Procurement for Customers (DPC) initiative, which requires water companies to competitively tender their projects.