Rok purchases Harrison Construction for £3.2m

Rok has paid £3.2m for Harrison Construction, a North Yorkshire-based construction group with a £30m turnover.

Rok could add a further £1.6m to the price once all the sums have been done. The further balance reflects any free cash retained within Harrison.

Harrison, which has 80 staff, has not yet filed its 2006 accounts. Its figures covering 2005, made available last November, showed a loss of £1.9m.

Harrison accounted for its dive into the red as the result of the market entry cost of establishing a strong South Yorkshire presence, the learning costs associated with perfecting the skills of building brownfield medium-rise residential accommodation, as well as delays in the planning process.

Rok chief executive Garvis Snook said the acquisition will boost its Yorkshire operations.