Covion will be incorporated into Balfour Beatty’s existing facilities management arm, Haden Building Management (HBM).
Balfour Beatty chief executive, Ian Tyler, said: ‘This transaction is an important step in increasing our penetration of the private sector facilities management market and in broadening and deepening our range of expertise in technology, property and people services. The addition of Covion’s clients and people will provide Haden Building Management, which is already growing strongly, with a significantly enhanced service offering in the facilities management marketplace and will establish us as a key player in the integrated facilities management field.’
David Steventon, chairman of Covion, said: ‘We are delighted to have found in Balfour Beatty an ideal partner to continue to expand the range and depth of services that we can provide to the market. The value of our market integrated approach is being recognised by an increasing number of blue chip customers.’
Covion has around 600 employees. Its revenues are expected to exceed £33m and are forecast to continue to grow strongly as its customer base expands. Covion’s current customer base includes Logica CMG, Anglian Windows, Britvic and Tate & Lyle