Takeover talks dragged on nearly four weeks longer than expected, but Bachy parent company Vinci has finally signed the takeover deal.

It is understood that Bachy and Bullivant will operate as separate trading subsidiaries of the group in the UK and will not be merged.

Founder and chairman Roger Bullivant announced his decision to sell his piling company in June saying he had only decided to sell ‘after much deliberation’.

Final negotiations to seal the deal were scheduled to be concluded on 11 July but took longer than expected.

Jonathan Steed, of Grant Thornton transaction advisory services, who also advised on the sale, said: “Bullivant has retained strong market share in certain aspects of ground engineering that made it very attractive to Bachy.

“It is a good strategic fit which takes Bachy  into a new market segment and so enhances its overall offering.”

Apart from its head office and main manufacturing centre in Drakelow, the 800 strong workforce operates out of seven regional bases in Normanton (Yorkshire), Preston, Alloa, East Boldon (Tyne and Wear), Dartford, Westbury (Wiltshire) and Port Talbot.

Bachy  has always insisted Bullivant staff have ‘nothing to fear’ from the deal because ‘there is very little crossover’ between the businesses’ work.