Nexus Infrastructure PLC

FRP Corporate Finance have successfully advised Nexus Infrastructure PLC on its acquisition of Coleman Construction & Utilities Limited.

Nexus is a major provider of civil engineering infrastructure solutions. To complement the existing business Nexus had a strategic objective of diversifying into additional key sectors, critical to UK infrastructure. It had identified the water sector as being of particular interest.

Coleman Construction & Utilities delivers civil engineering and building projects in the water, rail, highways and rivers & marine sectors. Its size and scale enables it to deliver flexible project solutions, which cover both minor works and larger multi-million-pound contracts. Many of Coleman’s projects are part of five-year frameworks (such as the AMP programmes in the water sector), Established in 2000, Coleman has grown into a leading UK construction group through an exemplary reputation for high quality builds and reliable service delivery.

Our Corporate Finance team led by Partner Darren Miller acted as lead adviser to Nexus Infrastructure, providing buy side support on all stages of the deal; providing a comprehensive review of the civil engineering market, identifying potential acquisition targets and selecting a short-list of targets worth approaching through the process of due diligence and legal negotiations leading to completion of the deal in October 2024.

Darren Miller, Partner at FRP Corporate Finance, said: “Charles and the team at Nexus had a clear acquisition strategy and a detailed set of criteria that enabled us to develop a strong short-list of potential targets.  Having approached Coleman it quickly became apparent that there was a very good strategic and cultural fit, with both businesses highly committed to the highest standards in health and safety, quality and customer satisfaction.

“The Nexus team, Barry Coleman and his advisers were a pleasure to work with and we are confident that as part of Nexus Group Coleman will continue to flourish.”

Charles Sweeney, Chief Executive of Nexus, commented: “The acquisition of Coleman presents an exciting opportunity for Nexus, diversifying into other critical sectors of UK infrastructure, enhancing our service offerings and driving future growth. This move enables the Group to benefit from long-term opportunities that are less vulnerable to short-term economic fluctuations. Coleman’s established reputation and expertise in water, rail, highways and rivers & marine sectors further strengthens our portfolio and we look forward to welcoming the Coleman team to Nexus.”

Barry Coleman, Co-Founder and Managing Director of Coleman commented: “Coleman has grown significantly over the years to become a leading civil engineering and construction business. Throughout this journey, we have remained committed to the highest standards in health and safety, quality, and customer satisfaction and our success is a testament to our exceptional team. Now with the support of Nexus, we are poised to further develop our business, creating new opportunities that will benefit our customers and everyone at Coleman. We look forward to collaborating with Charles and the Nexus team as we embark on the next phase of our journey.”