Belper-based construction heavyweight Bowmer + Kirkland has snapped up structural insulated panel manufacturer Innovaré Systems.
Innovaré, of Coventry, was part of the Osborne Construction Group. It develops “new materials, technologies and methods” for use in offsite building projects.
The company reported a turnover of £11.6m in its last available accounts.
Osborne Group chairman Andrew Osborne said the deal would
“ensure [Osborne’s] core business can be successful in the years ahead.”
“Everyone at Osborne is proud of Innovaré’s growth to date and I know the company will continue to thrive under its new ownership”, he added.
The deal follows a pair of lucrative Framework successes for Bowmer + Kirkland. The Derbyshire firm was awarded a place on the £10bn Crown Commercial Services Offsite Framework last month and revealed it had been appointed to the prestigious Ministry of Justice Constructor Services Framework earlier this week.
Financial details of the transaction have not been disclosed.
Source: The Business Desk