Peri’s acquisition of Mabey Hire marks a significant expansion in the UK construction market.
- Mabey Hire will continue to operate independently under Peri UK’s umbrella, retaining its management and brand.
- Mabey Hire reported substantial financial growth in 2023, with a turnover of £53.3m and a pre-tax profit of £9.8m.
- Peri Group aims to leverage this acquisition to enhance its market share in civil engineering.
- Speculation surrounded Mabey Hire’s future, with interest from other potential bidders including Altrad.
The acquisition of Mabey Hire by the German company Peri signifies a pivotal development in the construction industry, particularly within the UK market. Under its new ownership, Mabey Hire will maintain its current management structure and brand identity, continuing to function as an autonomous entity under the Peri UK umbrella. This strategic acquisition allows Mabey Hire to expand its service capabilities while leveraging Peri’s extensive resources and industry expertise.
Mabey Hire has demonstrated remarkable financial performance, achieving a turnover of £53.3 million for the fiscal year ending 30th September 2023. This reflects a notable increase from the previous year’s turnover of £42.8 million. Furthermore, the company’s pre-tax profit rose significantly to £9.8 million from £3.4 million in 2022, underscoring its robust financial health and market leadership.
The Peri Group, recognised as a family-owned business headquartered in Weissenhorn, Germany, operates with approximately 9,000 employees across more than 160 locations globally. This acquisition aligns with Peri’s strategic objective to augment its market share within the civil engineering and renovation sectors, focusing primarily on the UK while also extending its reach internationally.
David Adams, chief executive of Mabey Hire, expressed optimism about the acquisition, stating, ‘Becoming part of the Peri Group is an excellent opportunity to better serve the needs of our customers and, with Peri UK, offer them the best service possible.’ His remarks highlight the anticipated synergy and enhanced service offerings resulting from this merger.
Christian Schwörer, the chief executive of the Peri Group, emphasised that this acquisition represents a crucial milestone in Peri’s growth strategy, aimed at acquiring new market shares and expanding its operational domains, predominantly within the UK but with international prospects as well. His comments underline the significance of this transaction in advancing Peri’s strategic goals.
Despite circulating rumours within the industry regarding Mabey Hire’s future, this acquisition forecloses speculations, with bids previously considered from entities like Altrad. Notably, Mabey Bridge Limited remains a separate entity, unaffected by this transaction, as it is part of the Acrow Group.
The acquisition of Mabey Hire by Peri marks a significant step in expanding their reach in the UK construction market.
