Central Piling has announced that HG Construction has acquired a 25% share of the business, which it says will bring synergies for both companies.
“We have worked with HG for over 10 years but the new partnership formalises our relationship and will provide investment and working capital for the business,” said Central Piling managing director Steve Hadley.
HG Construction project director Andrew Carrington said: “The partnership has massive advantages for us. It is becoming more difficult to get projects started with start dates are often having to be fluid, so working with Central Piling gives us the flexibility. Other contractors can take six months to get onto site but we can now do it in four weeks with ground engineering effectively in house.
“Ground engineering is not just putting concrete in the ground and partnering with Central Piling gives us a competitive advantage.”
Carrington said that HG is getting involved in more complicated projects than ever before and working with Central Piling is helping to massively de-risk the work. “We are currently working on a tender for a four level basement,” he said. “The partnership with Central Piling means we have more information to formulate our approach at tender stage.”
According to Hadley, the investment also gives Central Piling a route to market to move into new areas and offer a wider range of geotechnical services, including ground investigation and sheet piling.
Hadley estimates that work for HG makes up around 15% of Central Piling’s workload.
HG currently has an annual turnover of £150M but Hadley believes it is a growing business and the partnership means the businesses will grow together.