The company said it maintains a stable financial position, with net assets of 拢51.9 million, a cash balance of 拢27 million, and no external debt. All obligations to Lendlease Construction Holdings (Europe) Limited and the wider Lendlease Group have been fully settled. The majority of Lendlease's UK construction employees have remained with the group.
CEO David Cadiot said, "Under new ownership, Bovis Construction (Europe) Limited is well-positioned to build on its legacy and accelerate its ambitions. The company remains fully committed to the clients, markets, and sectors it serves, as well as developing new client relationships to further develop sustainable growth.
"The company will continue to look at ways to achieve maximum impact by creating value for our clients as well as serving as a catalyst to local economic growth, advancing sustainability and enhancing the built environment. With a strong order book, a renewed focus on sustainable growth, and the backing of a long-term strategic investor, the business is confident in its ability to deliver consistent profitability and value creation over the medium and long term as its preferred pipeline converts."