kier group subsidiaries

[68] Amid concerns about Kier's future, the company was dropped from two major development schemes, in Leeds and London. The Dun & Bradstreet Data Cloud offers the world’s most comprehensive business data and analytical insights to power today’s most crucial business needs. By clicking the button above, you agree to our Terms of Use and consent to our contact process. This was soon followed by acquisitions of house builders Twigden plc, Allison Homes and Bellwinch Homes. In 1973 Kier merged with W. & C. French to form French Kier but within the French division there were heavy losses on fixed-price motorway contracts and land development. Kier Services provides management and maintenance services for public and private clients; it also operates a recycling facility in the West Midlands. Combine your data with Dun & Bradstreet Data Cloud data to create new analytical models that can give you a competitive edge. A Hoovers subscription is your VIP access to key information. See insights on Kier Group including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. [96], Kier Group is also involved in HS2 lots C2 and C3, working as part of a joint venture with Eiffage, due to complete in 2031. [22], In 2009, Mivan Kier, Kier's Romanian joint venture with the Northern Irish group Mivan, which invested in real estate projects in Bucharest, requested bankruptcy protection due to debts of €20 million. Company status Active Company type Public limited Company Incorporated on 21 April 1992. [9], Such specialist work was part of a pattern that quickly developed in the company's operations during that period, namely the undertaking of innovative, state-of-the-art civil engineering techniques at the forefront of modern technology. [98] Subsequently, Kier was among eight businesses involved in the 2014 launch of the Construction Workers Compensation Scheme,[99] condemned as a "PR stunt" by the GMB union, and described by the Scottish Affairs Select Committee as "an act of bad faith". Find out more. See our, Free Microsoft Outlook plugin to drive efficiency with on-demand sales intelligence. WSP Global Inc. is a Canadian business providing management and consultancy services to the built and natural environment. The knowledge, skills and intellectual capital of our people ensure we are able to project manage and integrate all aspects of a project. [40] The slide continued;[41] on 3 December shares were trading around 40% lower than before the rights issue announcement. Its largest business is Kier Construction, which offers engineering and contracting services for a variety of building and infrastructure projects in the UK and overseas. [8], During its first 35 years, Kier became identified with certain civil engineering specialisms, such as contiguous cylindrical reinforced concrete grain silos and cement silos, using continuously sliding formwork; commencing with those at Barking in 1929, followed by grain silos at Northampton, Peterborough, Melksham, Gloucester and Witham; and cement silos at Norwich, Cambridge, Trinidad, and in India. You consent to Dun & Bradstreet (D&B) using this data for marketing and analytical purposes, and to D&B emailing you or using an autodialer or pre-recorded voice to text or call you at the number you provide with marketing or other offers. … Detailed reports of various financial transactions undertaken by Kier Group plc and its subsidiaries since 2007. Our information suggests that Kier Group plc insiders own under 1% of the company. Other elements within this pattern were hyperbolic natural draft cooling towers (mostly around 300 ft high),[10] monolithic concrete chimneys (sometimes over 400 ft high),[11] complete power station structures,[12] and coastal works such as tanker berths, docks and harbours. [71] It also announced the appointment of a new CFO, Simon Kesterton (adept at "the disposal of non-core assets, the reduction of overheads and cost control"), with effect from 19 September 2019. Could this Neil Woodford-owned stock be next? [35][36] On 15 November 2018, Kier announced the £24m sale of its Australian road assets business KHSA to joint venture partner Downer, saying sale proceeds would help reduce net debt[37] - £624m at 31 October 2018. Kier is a leading provider of construction and infrastructure services, providing specialist design and build capabilities. [73] The group also confirmed chairman Philip Cox would step down once a successor had been appointed[74] (in December 2019, it was confirmed former Royal Mail FD Matthew Lester would succeed Cox with effect from 1 January 2020). The profile has been compiled by GlobalData to bring to you a clear and an unbiased view of the company’s key strengths and weaknesses and the potential opportunities and threats. This was the subject of a management buyout in July 1992,[20] with Hanson retaining a 10 per cent stake. [21], In 1993 Kier decided to re-enter the housing market with the £30m acquisition of Twigden Homes. ", "Kier targets £50m disposals to cut £375m debt", "Opening Quote: Kier determined not to be the next Carillion", "Kier raises £24m from Australian road business sell-off", "Rising debts force Kier to launch £264m rights issue", "London Market Close: FTSE 100 Ends Week In Red As G20 Summit Kicks Off", "Kier construction shares lose 30% on plan to raise cash", "Market report: Kier still on the ropes after shares suffer second knockdown", "Kier's shares plummet further in wake of rights issue", "Top News: Hiscox and Spirax-Sarco Engineering Promoted to FTSE 100", "Kier drops out of FTSE 250 as share price dives", "Kier shares sink below price set for rights issue", "Falling share price piles pressure on ailing Kier", "Underwriters hit as Kier £250m rights issue flops", "Less than 40% of shareholders take up Kier rights issue", "Kier investors shun efforts to raise £264m in funds", "Shareholders pushing for Kier chiefs to be ousted", "Embattled Kier picks chief left stranded by Carillion collapse", "Kier shares fall again as investors react to reports it will sell housing maintenance arm to cut debt", "Kier in talks to sell housing maintenance arm", "Kier admits to higher debts and Broadmoor losses", "Kier slumps to £35.5m loss as problem contracts continue", "Kier in profit warning as problems spread to building division", "Investors are taking a gamble on the Kier share price: here's what I'd do", "Kier shares plunge on report it wants to sell housing division", "Kier cutting 1,200 jobs and selling housing arm", "Kier Group to cut 1,200 jobs in attempt to avoid collapse", "Asset managers up bets against Kier share price", "Short sellers circle Kier Group as contractor's turmoil continues", "Kier dropped from major Leeds and London schemes", "Tycoon Hands wants to build new home with ailing Kier", "Kier Group plc: Appointment of Chief Financial Officer", "Kier warns of Brexit fallout after £245m loss", "Kier to sell historic country HQ to pay down debt", "Kier suffers shareholder revolt over chief's pay", "Kier board takes 20% pay cut for three months", "Kier pauses sale of housebuilding arm and cuts salaries", "Hands up for fresh effort to build future with Kier Living", "Kier closes Reading office with over 40 job losses", "Kier eyes rights issue as debt rises to £440m", "Gatwick Airport North Terminal Development", "The Lesotho Highland Water Development Project - What Went Wrong? [85] Further job cuts were also likely. The company was founded by Jorgen Lotz and Olaf Kier, Danish engineers, under the name Lotz & Kier in 1928, and it was based in Stoke-on-Trent. "[15] And American critic Henry Russell Hitchcock called it, "One of the finest, if not absolutely the finest, middle-class housing projects in the world"[15] (in 1970 both Highpoint blocks were classified Grade I listed buildings). © Dun & Bradstreet, Inc. 2000 - 2020. Kier Group plc has announced the appointment of Andrew Davies as its chief executive from 15 April 2019. [46] On 10 December, shares closed at 376.4p, a 15-year low. That’s why 90% of the Fortune 500, and companies of all sizes around the world, rely on Dun & Bradstreet to help grow and protect their businesses. 1 August 2019 Kier Group plc Appointment of Chief Financial Officer . Kier Group plc (LON: KIE) is moving in the right direction, but investors might want to watch any progress from the sidelines. [18], Five years later (1991) Hanson plc bought Beazer plc[19] and made an early decision to dispose of the contracting arm, now known simply as Kier. The fall was partly due to COVID-19 impacts as well as 'challenging' market conditions throughout the year. All rights reserved. ... while Kier Group has also turned to … Kier Group has 18,778 employees across 61 locations and £4.12 B in annual revenue in FY 2019. Kier Group is a leading property, residential, construction and services group which invests in, builds, maintains and renews the places where we work, live and play. 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[57][58], On 20 March 2019, Kier's half-year results showed a pre-tax loss of £35.5m in the second half of 2018 with revenues flat at £2,064m. Kier Group plc is a UK construction, services and property group active in building and civil engineering, support services, public and private housebuilding, land development and the Private Finance Initiative. [48], Following the rights issue result on 20 December 2018, shares fell by 13% to a 15-year low of 335p, but later recovered. [79] On 24 March 2020, as the financial impacts of the COVID-19 pandemic became clear, Kier's board of directors took a three-month 20% pay cut to mitigate the financial impact of the crisis, and warned employees' salaries might also be cut. [28], After the liquidation of rival contracting and services provider Carillion in January 2018, Kier took on some Carillion staff and contracts: 150 Carillion workers employed on smart motorway joint ventures with Kier became Kier employees; 51 Carillion employees working on seven HS2 civil engineering packages awarded to the CEK joint venture were allowed to join Kier/Eiffage. [62] Shares fell by over a third on 14 June, closing at 130.8p, after reports that Kier was looking to sell its housebuilding division. [54] On 28 January 2019, Kier shares dropped 4% after reports it would sell its housing maintenance arm to cut debt,[55] and the company was also reducing its waste management activities. Provides intelligence on Kier Group plc's M&A, strategic partnerships and alliances, capital raising and private equity transactions. [7], By the late 1930s Kier had moved its head office to Belgravia in Westminster, and thereby became neighbours to many of Britain's leading construction engineering consultants and contractors, who had formed a substantial coterie in Westminster for professionals and businessmen engaged in civil engineering. [84], On 1 July 2020, Kier announced it was considering a further rights issue to raise cash as average net debt had risen due to the impacts of the COVID-19 pandemic; average month-end net debt was up from £395m in December 2019 to £440m, and could rise to £485m. Its design and engineering capabilities meet the specifications for public and private customers. Kier & Co Ltd remained a private company until 1963 when it obtained a listing on the London Stock Exchange and became a public company. A long-serving Kier engineer, John Mott, was appointed chief executive in order to revive the group's fortunes. These revisions followed £10.3m in adjustments to the group's hedging activities, and £40.2m in relation to development assets held for resale. [80] On 30 March, Kier announced all 6,500 Kier employees would have their base salary reduced by between 7.5% and 25% for three months from 1 April; it stepped up its cost reduction programme, bringing forward the closure of Tempsford Hall to 30 April[81] (head office functions were transferred to Manchester in mid April),[1] and paused the sale of its housebuilding business, Kier Living[82] (though Terra Firma revived talks about buying Kier Living in December 2020). Kier Group General Information Description. Fill out this form, and we'll contact you soon. Kier Group Holdings, LLC operates as an investment holding company. 20,850,000 in issue as at 31 October 2020 The Company has only one class of share and this figure represents 100% of the Company's share capital and voting rights. Kier Group plc (KIE) - Financial and Strategic SWOT Analysis Review - provides you an in-depth strategic SWOT analysis of the company’s businesses and operations. [100] In December 2017, Unite announced it had issued high court proceedings against four former chairmen of the Consulting Association, included Danny O'Sullivan of Kier, alleging breach of privacy, defamation and Data Protection Act offences. [88], Projects involving the company have included Highpoint I completed in 1935,[89] the North Terminal at Gatwick Airport completed in 1988,[90] the Lesotho Highlands Water Project completed in 1998,[91] Hairmyres Hospital completed in 2001,[92] High Speed 1 completed in 2007,[93] the Castlepoint shopping centre in Bournemouth in 2003,[94] the UK Supreme Court in London completed in 2009[95] and Snowhill Phase 2 in Birmingham completed in 2009. [34] The 2018 results were in line with City expectations - showing a pre-tax profit of £137m from stable revenue of £4.5 billion - with Kier outlining clear debt reduction plans. [23][24], In 2013, Kier acquired the services firm May Gurney for £221 million,[25] becoming the then fourth largest contracting firm in the UK (behind Balfour Beatty, Carillion and Laing O'Rourke). Kier Group as we know it today began in 1992 when the company was acquired by Hanson plc. [102], Following a devastating fire in the Glasgow School of Art's Mackintosh Building on 15 June 2018, the school terminated its £25 million restoration contract with Kier on 29 June 2018. This triggered a management buyout at Beazer, leading to the forming of Kier Group, Britain’s first major contractor to be employee-owned. A D&B Hoovers Subscription is your foot in the door to KIER GROUP PLC contact information. [26] In June 2015 Kier completed the acquisition of Mouchel, a business which included infrastructure services and business services divisions, for £265 million;[27] Mouchel Infrastructure Services was rebranded as Mouchel Consulting, and sold to WSP Global in October 2016. Consent is not a requirement of purchase. Detailed reports of various financial transactions undertaken by Kier Group plc and its subsidiaries since 2007. ", "Kier vs. Carillion - what can we learn? Chat About KIE Shares - Stock Quote, Charts, Trade History, Share Chat, Financial Terms Glossary. The cost-cutting process begun in 2018 had cut 1,200 jobs with another 50 set to leave by 30 June 2020. This was followed by acquisitions of the southern division of Miller Homes in 1996, Bellwinch in 1998, and Allison Homes in 2001. [47] Only 38% of the rights issue was taken up, with shares still trading below the rights issue price, at 385p, on 19 December. When Le Corbusier himself visited Highpoint in 1935 he said, "This beautiful building .... at Highgate is an achievement of the first rank. Kier Group plc is a UK construction, services and property group active in building and civil engineering, support services, public and private housebuilding, land development and the Private Finance Initiative. [56], On 11 March 2019, Kier revised its average net debt for the six months to December 2018 by over £50m from £130m to £180.5m, raising average month-end net debt over the period from £370m to £430m. [97], Kier was revealed as a subscriber to the UK's Consulting Association, exposed in 2009 for operating an illegal construction industry blacklist, and was among 14 issued with enforcement notices by the UK Information Commissioner's Office. [101] Unite also said it was taking action against 12 major contractors including Kier. [13], In the same period, only this time in the building sector, Kier were in the vanguard of new reinforced concrete systems for use as framework for tall buildings. Reach the right people with access to detailed contact information. They were responsible for the reinforced concrete and general building. [87], The company has four divisions: Kier Construction, Kier Services, Kier Residential and Kier Property. [59] In a 3 June 2019 profit warning, Kier said operating profits would be £25m lower than previously expected,[60] causing its share price to fall over 40%[61] - trading at about 150p, less than half the rights issue price, on 6 June. British builder Kier Group named former Carillion CEO-designate Andrew Davies to its top job on Tuesday as it strives to cut debt and respond to problems afflicting the wider outsourcing industry. Find related and similar companies as well as employees by title and much more. [63] On 17 June, Kier confirmed the housing division sale, and said it would wind down its property business and planned to exit the facilities management and environmental services markets "in due course". Detailed profiles of all businesses owned and operated by this company for insights and prospecting. Next accounts made up to 30 June 2020 due by 31 March 2021. As Kier crashed by 35.5 per cent, or 72p, to 130.8p yesterday, wiping £116.7m off its market value, the worth of Woodford's stake - which accounts for 15.9 per cent of the company - … See insights on Costain including office locations, competitors, revenue, financials, executives, subsidiaries and more at … As well as the Broadmoor provision, Kier lost £26m on a disputed waste collection contract which has been cut short, while integrating the McNicholas business and Kier restructuring added a further £15.4m to costs. Dun & Bradstreet collects private company financials for more than 23 million companies worldwide. Following an abortive bid for Abbey in 1985, French Kier itself was the subject of a hotly contested bid by Beazer, which eventually succeeded in January 1986. – Information about key financial and legal advisors for Kier Group plc's financial deals transactions. After a period under the ownership of Hanson plc, it was bought out by its management in 1992, expanded its housing interests, and was relisted on the London Stock Exchange in 1996. [77], Half-year results announced on 5 March 2020 showed Kier made a pre-tax loss of £41.2m in the final six months of 2019 (marginally better than 2018's restated £45.3m loss); revenues were down 9% to £1,866m (2018: £2,053m). [64] Kier's share price fell 17% to 108p, a level not seen since the company's 1996 flotation,[65] and its shares were subject to renewed 'shorting' with one analyst saying "the consensus in the market is that Kier will go bust";[66][67] on 15 July 2019, Kier shares were the most 'shorted' on the London Stock Exchange, with shares falling 12.7% to 72.95p. [38], However, on 30 November, Kier announced a £264m rights issue, priced at 409p, to pay down net debts;[38] the announcement led to Kier shares dropping almost 33%,[39] cutting Kier's stock market value by £329m to £492m. Information about key financial and legal advisors for Kier Group plc's financial deals transactions. [106] Kier Construction was reinstated in December 2019;[107] Kier Highways and Kier Infrastructure & Overseas were reinstated in June 2020;[108] Kier Integrated Services was reinstated in August 2020, but McNicholas Construction Services remained suspended. This content is not approved for use by Primerica Representatives. See similar companies for insight and prospecting. [16], Olaf Kier sought to retain family leaders at the head of the organisation. Kier Group provides a full range of construction and development services from more than 50 offices across the UK. The lowdown on Kier Group ... Kier has lots of complex long-term contracts and individual subsidiaries, which makes for an opaque situation where clarity and stability are desired. [18] Kier was listed on the London Stock Exchange in 1996. More for KIER GROUP PLC (02708030) Registered office address 81 Fountain Street, Manchester, England, M2 2EE . These are further split into smaller companies. – Financial deals tables and charts covering deal value and volumes trend, deal types and geography-based deal activity. Engaging constantly with the Quarrying, Recycling and Bulk Material Handling industries we pride ourselves on giving our clients a whole new publishing experience. Kier Group has sounded out advisers about the potential to sell its house building division,according to the Times, which adds that the division is … Credit building solutions to fit your growing business. Shares were also subject to renewed 'shorting'. You consent to Dun & Bradstreet (D&B) using this data for marketing and analytical purposes, and to D&B emailing you or using an autodialer or pre-recorded voice to text or call you at the number you provide with marketing or other offers. Learn More About our Enterprise Analytics Solutions, See More Companies in the Management of Companies & Enterprises Industry. Kier Group plc ("Kier" or the "Company") announces that Simon Kesterton will be appointed to its board of directors (the "Board") as Chief Financial Officer Designate with effect from 26 August 2019 and will assume the role of Chief Financial Officer from 19 September 2019. However, his son by his first marriage was killed in a riding accident in 1945. Accounts. [6], A few years later Lotz withdrew from the company, but Olaf Kier retained a semblance of his identity by including Lotz's initials in the organisation's new name, J.L. Shares fell by 12% to 437p. [75] In October 2019, Kier announced it was selling its Tempsford Hall headquarters in Bedfordshire to raise cash from its property assets. Always at your fingertips. [105] In November 2019, Kier and subsidiary McNicholas Construction Services were suspended from the Prompt Payment Code for failing to pay 95% of all supplier invoices within 60 days. By continuing to browse the site, you agree to our use of cookies. [4] It was a constituent of the FTSE 250 Index until its share price plunged following a failed rights issue in late 2018,[5] after which it started a restructuring, cost-cutting and disposals programme. By clicking the button above, you agree to our Terms of Use. By 2004, Kier housing sales were over 1,000 units a year. Kier was listed as a public company on the London Stock Exchange from 1963 until it was acquired by Beazer in 1986. View Kier Group (www.kier.co.uk) location in Central Bedfordshire, United Kingdom , revenue, industry and description. [14], When this project was completed in 1935 it became widely renowned as the finest example of this form of construction for residential purposes. Kier also highlighted "volume pressures" in its highways, utilities and housing maintenance markets. Since our formation in 1984, V.Group has provided a full range of ship management and maritime services to the commercial shipping, cruise, energy, and defence industries. Kier Group PLC is a construction and services company that builds and maintains projects for various sectors. Get the big picture on a company's affiliates and who they do business with. [42] On 5 December, Kier was demoted from the FTSE 250 Index,[43] and its share price dropped below the rights issue price,[44][45] making it cheaper for investors to buy shares in the open market than in the rights issue, and leaving underwriters (Numis, Peel Hunt, Citigroup, HSBC and Santander) facing losses. [70][72], On 19 September 2019, Kier announced a £245m pre-tax loss on revenues of £4.5bn for the year to 30 June 2019, resulting from £341m in impairment costs and write-downs related to preparing businesses for sale, restructuring and loss-making contracts. See our Privacy Notice to unsubscribe. Their most famous contribution in this field was an eight-storey avant-garde development of apartment blocks named Highpoint, located in Highgate Village, north London. Information about key financial and legal advisors for Kier Group plc's financial deals transactions. It also warned of £25m of additional costs on its Broadmoor Hospital redevelopment. Its offer for shares was many times oversubscribed. During the early 21st century, it expanded through acquisitions, and in September 2018 Kier was ranked, by turnover, as the second biggest UK construction contractor, behind Balfour Beatty. Legg Mason Investor Services LLC, is a wholly-owned subsidiary of Franklin Resources, Inc. Mr Davies had been drafted in to help save Carillion but the troubled firm became insolvent in January 2018 before he could take over. High quality data. [29][30][31] However, because Kier shared characteristics that contributed to Carillion's collapse - problem contracts, rising debts, and use of reverse factoring supply chain finance - City hedge funds began to 'short' Kier's shares; 10.9% were shorted by 30 August 2018,[32] later rising to 18%,[33] though Kier's position was not seen to be as risky as Carillion's. Riding accident in 1945 – information about key financial and legal advisors for Kier Group plc 's M &,... `` Kier vs. Carillion - what can we learn 18 ] Kier also closed its Reading with... And £40.2m in relation to development assets held for resale UK£95k worth of shares in the door to Group..., Sky News learns Kier engineer, John Mott, was appointed chief in... Take over, M2 2EE plc, Allison Homes and Bellwinch Homes, Manchester, England M2. Mersey road tunnels ) what can we learn of cookies Kier construction, Kier services, Kier was on... Your data with Dun & Bradstreet data Cloud data to create new models... Worth of shares in the failed DG One leisure centre in Dumfries Contacts and Principals counts are and! And Resources about the performance of Dun & Bradstreet collects private company financials for more than 50 offices across UK! Andrew Davies as its chief executive from 15 April 2019 projects for sectors. 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