(Sharecast News) - Construction firm Galliford Try said on Thursday that it has bought AVRS, a specialist mechanical, electrical, instrumentation, control and automation (MEICA) design and build contractor, for up to £7m.
Established in 1972, AVRS delivers specialist MEICA design and build solutions. In the water sector, the business had long-term frameworks with key clients as well as the Coal Authority and MoD, with operations being very closely aligned to Galliford Try's existing business.
In the energy sector, AVRS has long-term client relationships providing in-house design, supply, installation and commissioning of MEICA.
Galliford said AVRS is "an excellent fit" and the acquisition is a continuation of its previously-disclosed strategy relating to the development of adjacent markets.
Chief executive Bill Hocking said: "I am delighted to welcome AVRS to Galliford Try. We have said that we will continue to consider bolt-on acquisitions to accelerate our strategy and this acquisition increases our capabilities in the environment business and bolsters the group's capital maintenance credentials. AVRS brings highly complementary skills into the group which will further advance our Sustainable Growth Strategy."
Galliford Try (GFRD)