Morrison Facilities Services

Morrison Facilities Services was a United Kingdom-based company that specialised in providing facilities services to private businesses and central and local government bodies. The core area of the business was repair and maintenance of social housing. It was a subsidiary of Anglian Water Group until acquired and (later) merged with Mears Group in November 2012.

Morrison Facilities Services plc
Subsidiary
Founded2006
HeadquartersStevenage
ProductsRepairs and Maintenance
Revenue£14,528 million (2009)
£670 million (2009)
£460 million (2009)
Number of employees
3,321 (2009)
Websitewww.mearsgroup.co.uk

History

Morrison Construction was founded by the Morrison family in 1948 in Tain, Scotland.[1] In the 1980s, 80% of the company was sold to Charter Consolidated, with the Morrison family retaining 20% of the ownership.[2] In 1989, the Morrison family repurchased the 80% of the business sold to Charter Consolidated earlier that decade, and also acquired the businesses of Biggs Wall and Shand Construction. In 1994, Morrison Construction plc was listed on the London Stock Exchange.[2]

In September 2000, Morrison Construction was purchased by AWG Plc (Morrison Construction was delisted).[3]

In March 2006, the construction division of the business was sold to Galliford Try.[4] The remainder of the business was split into two divisions, Morrison Facilities Services and Morrison Utilities Services, and, in March 2008, AWG sold the Utility Services division to two private equity firms, Cognetas and Englefield Capital for £235 million.[5]

In 2012, AWG sold Morrison Facilities Services to Mears Group for £24m. In the year ending 31 March 2012, Morrison reported turnover of nearly £291 million and an operating loss of £7.6 million.[6] In 2013, Mears said it turned Morrison FS fortunes around.[7]

References
  1. Morrison Construction Company Profile Linkedin, 21 July 2009
  2. Morrison float to bolster builders The Independent, 29 August 1995
  3. AWG sues Morrison Chiefs over 'misrepresentation' Guardian, 5 February 2003
  4. AWG sells building arm to Galliford Telegraph, 2 March 2006
  5. AWG sells Morrison utilities services division Archived 2009-02-12 at the Wayback Machine Herald, 8 March 2008
  6. "Mears buys Morrison Facilities Services". Facilitate Magazine. 8 November 2012. Retrieved 3 January 2020.
  7. "Mears turns FM acquisition Morrisons' fortunes around". FMJ. 14 August 2013. Retrieved 3 January 2020.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.