Chief executive Oliver Whitehead said last week that Alfred McAlpine, whose turnover hit £839m last year, would be targeting support service bolt-ons this year.
Analysts described the purchase as a good move but questioned Alfred McAlpine's commitment to housebuilding, despite housebuilding returning margins of 12.8% last year.
It’s a very sensible move for the company. Of course it is turning away from housebuilding
City analyst