This website uses cookies primarily for visitor analytics. Certain pages will ask you to fill in contact details to receive additional information. On these pages you have the option of having the site log your details for future visits. Indicating you want the site to remember your details will place a cookie on your device. To view our full cookie policy, please click here. You can also view it at any time by going to our Contact Us page.

Balfour Beatty acquires Covion

18 October 2007

Balfour Beatty has acquired Covion, the facilities infrastructure services business from its management and private equity investors. Covion will become part of Haden Building Management, Balfour Beatty's FM arm. The move strengthens and extends Balfour Beatty’s reach in FM , and its strategy of offering integrated service packages, extending white collar skills and increasing private sector presence.

Acquisition gives Haden Building Management strong position in the fast-growing private sector FM market and a prime position in integrated technical service provision.

Covion is a profitable, fast-growing company with an excellent customer base including Logica CMG, Anglian Windows, Britvic and Tate & Lyle. Complementary to Haden Building Management’s existing strengths in public sector markets.

Commenting on the acquisition, Ian Tyler, Chief Executive, Balfour Beatty 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.”

Covion, which provides technology, property, people and FM services in integrated packages to the manufacturing facilities and corporate business sectors, has been one of the fastest growing companies in the UK in 2005 and 2006. It will become part of Haden Building Management (HBM), Balfour Beatty’s existing facilities management arm, adding a strong private sector presence and a specialist expertise in a range of white and blue collar functions to HBM’s predominantly public sector portfolio.

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 was founded in 2000, is based in Theale, near Reading, and has some 600 employees. In 2007, its revenues will exceed £33 million and are forecast to continue to grow strongly as its customer base expands. To date, the business has achieved good margins which are expected to continue. Its clients are large, multi-national organisations and top-tier corporate businesses, including Logica CMG, Anglian Windows, Britvic and Tate & Lyle.

The consideration has been satisfied by cash.

Contact Details and Archive...

Print this page | E-mail this page


View more articles
Article image

PFM Awards 2021 - Overview of the FM industry's favourite awards event

Click on the video below to view the reaction of attendees and the sights enjoyed by attendees to the PFM Partnership Awards 2021 evening of celebration....
Article image

PFM Partnership Awards 2021 presentation ceremony pictures

Appreciative comments are continuing to be received by the PFM Partnership Awards 2021 team and the pictures of the evening can now be viewed and downloade...
Article image

PFM Partnership Awards 2021 winners

Last night saw the first live presentation of the PFM Partnership Awards since 2019 and the evening was hailed as a great success....
Article image

Zero carbon increasingly influencing contractual agreements

With the UK continuing to increase its efforts to achieve net zero carbon emissions by 2050, these efforts can be seen to be increasing their influence on ...
Article image

Why the Law Says You Need a Nappy Bin Disposal Service

At home, parents are used to disposing of their babies’ used nappies the same way they do any other domestic waste - bagging it up and sticking it in the r...
Article image

PFM Awards 2021 - Silence Tjivella speaks to PFM after standing ovation

Following his receipt of the PFM Partnership Awards Team Member 2021 trophy, ISS cleaning operative Silence Tjivella provides his thoughts of how cleaners ...