Balfour Beatty buys Covion for £33m

Balfour Beatty has acquired facilities infrastructure business Covion for £33m.

The purchase from private equity investors will see be integrated with Haden Building Management, Balfour’s existing facilities management arm.

Covion provides technology, property, people and facilities management services to the manufacturing facilities and corporate business sectors.

Balfour said Covin was complementary to Haden Building Management's existing strengths in public sector markets.

Commenting on the acquisition, Balfour Beatty chief rxecutive 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.”

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.”

Covion, which is based in Theale near Reading will have revenues in excecess of £33m in 2007. There are 600 employees.