One of South Africa’s largest contractors has acquired a 40% stake in concrete frame specialist Byrne Group.
Wilson Bayly Holmes-Ovcon (WBHO), which is listed on the Johannesburg stock exchange, has bought the stake in the London-based firm for £12m.
WBHO group building managing director Paul Foley will join Byrne Group’s board under the terms of the deal.
“We see real synergistic benefits of working together, especially at a time when the UK construction market is strong and there is growing demand for our unique blend of construction skills,” Foley said.
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