Vinci jumps to £1.4bn annual turnover

Vinci’s acquisition of Taylor Woodrow Construction creates a combined business with an annual turnover of £1.4bn. The forward orderbook runs to a similar figure.

The combined workforce will run to 4,600 as a result of combining Taywood’s 1,700 and Vinci’s existing headcount of 2,900.

Taywood has an annual turnover of £600m and made an operating profit of £18m last year.

Under the terms of the deal, Taywood’s name will stay though the logo will change. Tim Peach continues as managing director.

John Stanion, chief executive of Vinci’s UK operation, said that the acquisition will strengthen the group’s presence in:

• Rail infrastructure
• Energy infrastructure
• Facilities management in the UK
• Regional building activities in health, education, retail and airports
• PFI and PPP activities. 

“We intend to become one of the most proficient construction groups in the UK,” said Stanion.

Tim Peach, managing director of Taylor Woodrow, said that the due diligence was a “thorough and fully co-operative period” adding that it became increasingly apparent that the acquisition of Taylor Woodrow by Vinci made good business sense.

“The combination will create a company with complementary areas of operation and expertise,” said Peach, “providing added value for our customers and greater opportunity for our teams.  I look forward to working with John to move the business on.”

While the name Taylor Woodrow will remain, so will that of Norwest Holst which is also part of the Vinci group.