Babcock lands London Fire Brigade contract April 1, 2014 UK engineering group Babcock International has said this morning that it has been named as the preferred bidder for a 21 year contract, with London's Fire Brigade (LFB). The company was awarded the contract to manage LFB's vehicle fleet by the London Fire and Emergency Planning Authority (LFEPA). There will be a 10 day standstill [...]
Babcock slides on rights issue to buy Avincis March 28, 2014 BABCOCK International’s share price plummeted yesterday, after the engineering firm announced a £1.1bn rights issue to fund the acquisition of heavily indebted helicopter services company Avincis. The FTSE 100 company said it is buying Avincis for £920m from private equity firms Investindustrial and KKR, but will also assume Avincis’ debt of £705m. The deal will [...]
Babcock bags helicopter provider Avincis March 27, 2014 UK engineering group Babcock International has said this morning that it’s agreed to buy Avincis, which provides search and rescue helicopters. Babcock says the move will bolster future growth, with Avincis a “clear strategic fit” for it. The conditional agreement to pay £920m to buy Avincis from World Helicopters also sees Babcock assume Avincis’s net debt [...]
Military contracts arm support company Babcock for growth February 11, 2014 BABCOCK shares rose 3.95 per cent yesterday after the engineering services firm said trading was good in the UK and overseas. The firm said its order book now stands at £11.5bn, having won £700m-worth of work in the quarter including rail electrification contacts with Network Rail and services on Total’s oil platforms in the North [...]