Warings bought by Bouygues Construction

Warings, the regional contractor based in Portsmouth, has been bought by Bouygues Construction.

The move had been rumoured for some while, despite Warings’ senior managers, who themselves led a management buy-out 10 years ago, declaring that they had no intention of selling.

Warings made a pre-tax profit of £1.5m last year on a turnover of £130m, representing a margin of 1.2%.

For Bouygues, the latest move is part of its plan for “strategic expansion in the UK”.

Warings has 240 employees and undertakes new build and refurbishment projects in the south of England in sectors which include healthcare, commercial, airports and defence.

Bouygues founded its UK presence in 1997 and now has 300 staff.

Warings is Bouygues’ fourth UK acquisition following:

• David Webster - street lighting
• Icel - power systems and generators
• Thermal Transfer – HVAC engineering and cleanrooms