As trailed on i-FM two weeks ago
facilities services company Aqumen, is set to acquire an M&E installation
and maintenance business. Aqumen's parent, John Mowlem & Company,
has announced its intention to buy Bower Group plc. The company will become
part of Aqumen Group and confirms Mowlem’s strategy to invest in
its service businesses.
Bower Group is a national mechanical and electrical installation and maintenance
service business with a turnover in excess of £80 million. Employing
some 500 people across the United Kingdom the company provides services
to a range of private and public sector customers, including Marks and
Spencer, Orange and local government.
Aqumen has identified mechanical and electrical systems as a critical
support service and says that this acquisition will enable the company
to deliver FM and technical services as an integrated package.
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Jack
McGrory
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Managing director of Aqumen, Jack McGrory, said: "This acquisition
supports our strategy to develop a technical services capability in order
to offer more to our customers, and it also complements the Mowlem strategy
to invest and grow its services business."
This investment, supported by Mowlem’s recent divestment of its share
in SGB, reinforces Mowlem’s strategy to create a cohesive Group and
to focus investment on service businesses.
John Gains, Mowlem Group Chief Executive, said: "Following Mowlem's
strategic review in 1999 we made a strong commitment to invest to broaden
the service provision. This acquisition fits precisely with strategic
aims and confirms our intention to be a leading provider of solutions
to owners, users and developers of premises, buildings and infrastructure."
Richard Byatt
