This purchase is said to boost Kier’s presence in the UK rail industry, with projects across the country. Credit: Philafrenzy/commons.wikimedia.org.

Construction company Kier has signed an agreement to acquire substantially all the rail assets of UK-based construction company Buckingham Group.

Last month, Buckingham Group said that it filed a notice to appoint administrators, but emphasised it was not currently in administration.

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Meanwhile, the latest announcement by Kier stated that the acquisition came as the group went into administration.

Following the acquisition, the rail division will become a part of the Kier Transportation unit, which develops, constructs, and maintains infrastructure for roads, rail, aviation and ports.

Kier CEO Andrew Davies said: “We have previously stated that we would consider value accretive acquisitions in core markets where there is potential to accelerate the medium-term value creation plan.

“This acquisition is one such example – it is an excellent strategic fit and accelerates our rail strategy, providing work with new rail clients and increasing our capabilities. I am delighted to welcome our new employees, clients, and suppliers to Kier.”

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This purchase is said to boost Kier’s presence in the UK rail industry, with projects across the country.

Kier Transportation Group managing director Joe Incutti said: “The Buckingham Group rail business had built a very strong reputation for assured delivery in the rail sector. I am pleased that we now welcome 180 new colleagues into Kier Transportation.

“The team will further strengthen our capability, and this helps to bring an end to a period of uncertainty for former Buckingham Group clients and employees by ensuring continued delivery on existing projects, and the retention of hugely important skills and expertise in the rail sector.”