STRABAG UK agreed on 9 April to acquire Van Elle Holdings, the AIM-listed ground engineering and piling contractor, for 52.3p a share in cash, valuing it at about £58.8m.
Why STRABAG UK Limited (STRABAG SE) is buying Van Elle Holdings plc
STRABAG described Van Elle as a strong strategic fit, saying its residential, water and energy markets complement STRABAG's business and broaden its civil engineering and groundworks capabilities across the UK.
Deal terms and financing
The 52.3p offer was a 58.5% premium to Van Elle's closing price of 33.0p on 8 April and 49.5% above its six-month volume-weighted average. It was implemented by a court-sanctioned scheme of arrangement, after which Van Elle was to be re-registered as a private company.
Regulatory approvals and timing
At meetings on 28 May, 99.96% of shares voted at the court meeting and 99.94% of votes at the general meeting backed the scheme. The High Court sanctioned it on 11 June, with the scheme expected to take effect on 15 June and AIM trading cancelled on 16 June 2026.
Market context
Van Elle floated on AIM in 2016, employs more than 600 people and had revenue of about £130m last year. It sold its Canadian operations in December 2025.
