Fitzpatrick sold to Volker Wessels

Fitzpatrick was sold yesterday to Dutch giant Volker Wessels for an undisclosed sum.

The company, which has a 750-strong workforce, achieved a turnover of approximately £225m last year.

From its head office in Hoddesdon, Hertfordshire, Fitzpatrick undertakes highway maintenance, civil engineering, commercial building, rail and facility management contracts mainly in the South East. The company started out as Fitzpatrick & Son in 1921 and is run by Patrick Fitzpatrick, the founder's son.

Andries de Jong, a member of the Volker Wessels board, said: "The takeover ties in with Volker Wessels' strategy to expand in the UK, with companies delivering synergy benefits to the companies we already have there.

Volker Wessels is one the largest construction groups in Europe and already has a presence in the UK through Harbour & General and its joint ownership with Corus of Grant Rail.

"We have come to recognise Fitzpatrick as a robust business, with strong management. We are convinced that in 2004 Fitzpatrick will deliver a significant contribution to Volker Wessels.''

Patrick Fitzpatrick said: "The acquisition ensures that Fitzpatrick will become part of a large international company enabling it to further develop and expand the growth strategy that has already been implemented. The acquisition enables Volker Wessels to offer Fitzpatrick the chance to fulfil its ambitions. I am leaving the company in the knowledge that its future will be in good hands.''