Renew buys water civils specialist J Browne for £29.5m

Aaron Morby 3 years ago
Share

Engineering services contractor Renew has bought civils contractor J Browne for £29.5m, taking a strategic jump into the southern water infrastructure market.

London-based J Browne was established 50 years ago and now turns over around £80m working for several water companies across the south of England, including Thames Water and Southern Water.

Paul Scott, chief executive of Renew, said that the deal added material scale to Renew’s water business, bringing new water clients into the group.

He said: “This acquisition broadens Renew’s exposure to the UK water market and is consistent with our strategic objectives.

“This market offers attractive long-term growth opportunities underpinned by committed regulatory spend and is a sector we understand well from our established relationships in other water regions.”

Jeremy Browne, chairman of J Browne said: “Under Renew’s ownership, J Browne enters an exciting new stage for the business.

“It was critical for us to have an owner who shares the values that have contributed to our success and one which has demonstrated the necessary expertise to support our growth ambitions.”

In addition to water company infrastructure, J Browne provides utility connections and infrastructure services to the developer market in London and the Home Counties.

Last year the firm reported a pre-tax profit of £5.5m.

In its current financial year to 31 March 2021, the business has seen a reduction in activity due to the transition from AMP6 to AMP7 and is expected to report turnover of £63.3m, but this has now increased back to historic run-rate levels as activity has normalised in AMP7.

Latest news

Lendlease veteran is latest new McAlpine director

Paul Sims joins as Operations Director after 40 years at rival contractor
9 hours ago

BAM go-ahead for Leeds 200,000 sq ft office

Latitude Yellow will complete final plot at Doncaster Monk Bridge site
9 hours ago

VolkerFitzpatrick wins £30m logistics job

Latest deal to build five distribution units for Prologis UK
10 hours ago

Precast firm FP McCann cleared after immigration raid

Home Office takes no action after public raid on construction site
17 hours ago

Wates-owned SES restructure delivers record profit and revenue

Building services contractor revenue soars to almost £300m
16 hours ago

25 groundworks firms win £100m Places for People deal

M&J Evans, Carmac and Churngold Construction feature in housing association's line-up
17 hours ago

Energy efficiency firms angry at lack of CITB support

SME contractors funding bid "does not meet the current criteria for supporting productivity or EDI"
17 hours ago

£400m South Cambridge science park approved

Outline approval allows former sewage treatment works to be demolished
17 hours ago

McLaren gets green light for 45-storey Leeds tower

Landmark Wellington Square scheme will see 464 flats built with 360,000 sq ft of offices
4 days ago

Heavy rain causes 1.9% construction output fall

Hopes remain undampened of a resi-led recovery this summer
4 days ago

Taziker restruture to return to profitability after £1.2m loss

Founders bought the business back from private equity after last year's loss
4 days ago

£220m London wharf homes scheme approved

285 homes to be built beside protected Albert and Swedish Wharves in Wandsworth
4 days ago

Major project veteran named civils director for Sizewell C

David Speight previously worked on Hinkley, Heathrow and HS2 client teams
4 days ago

Morgan Sindall lands £19m Milton Keynes hospital job

Crane lifts to be carefully co-ordinated to ensure air ambulance remains active
4 days ago

Clancy bolsters civils leadership team

Daniel Tonkin and Simon Hyams join as operation directors of water and infrastructure
5 days ago

Balfour names new project boss for HS2’s super-hub station

Steve O’Sullivan replaces Nigel Russell who was promoted to CEO of Balfour's HS2 ops
5 days ago

Buckingham Group supply chain hit doubles to £256m

Total owed to unsecured creditors soars as surety providers finalise claims
5 days ago

Builders demand an end to police plant bans

Call to suspend all embargoes on moving mobile cranes and large site kit
5 days ago

Green light for £65m Blackpool multiversity campus

Education campus of 350,000 sq ft will be delivered in phases
5 days ago

Vinci signs £138m Sheffield steel forge expansion deal

Sheffield Forgemasters signs landmark contract after two years of pre-construction works
5 days ago

McAlpine hires HS2 programme boss to head defence arm

Armed forces logistics expert Mike Hickson takes role as MD of defence
5 days ago

£200m carbon capture plan for Deeside site

Energy from waste operator enfinium looking to invest in North Wales plant
5 days ago

McAleer & Rushe promotes five staff to contracts directors

Design and build contractor targets £500m revenue next year
6 days ago

Consultant quartet win Government estate upgrade deal

Government Property Agency selects Arcadis, Tetra Tech, AtkinsRéalis and McBains
6 days ago

Resi towers pioneer to transform Liverpool site

Beetham founder Hugh Frost to help develop 1,200 new homes
6 days ago

Construction Manager of the Year crowned

Galliford Try's Barry Kingscote wins coveted prize: Full list of winners
6 days ago

Landsec £250m London terraced office job approved

Skanska tipped for 20-storey Hill House scheme near Fleet Street
6 days ago

Lendlease tops March contracts league

BAM and ISG rank third with big contract wins
6 days ago

Vistry strikes deal with Homes England for 1,000 units

Firm's timber frames factory will supply most of the Midlands houses
6 days ago

Morgan Sindall go-ahead to build 23-storey Salford resi job

Funding deal with CBRE allows latest project on bank of River Irwell to proceed
6 days ago

Contractor services