US construction giant KBR has officially snapped up Carillion鈥檚 stake in Aspire Defence.
KBR, who was already a stakeholder in Aspire Defence, took control of the joint venture following Carillion鈥檚 insolvency in January 鈥� including the hiring of affected Carillion staff.
The Texas-based firm has maintained normal business operations for the past three months.
Stuart Bradie, KBR president and chief executive said: 鈥淭his acquisition and our commitment to maintain the stability of the project strengthens KBR鈥檚 long-standing relationship with the UK MOD as a core client.
鈥淜BR has spent more than 12 years delivering this program to re-house soldiers into fit for purpose accommodation and working facilities.鈥�
鈥淲e look forward to continuing to provide market-leading construction and long-term maintenance services in support of the Army Basing Programme within the Project Allenby Connaught footprint and to provide base support services across Salisbury Plain and Aldershot garrisons.鈥�
The Aspire Defence joint venture has been working with the MoD on the Project Allenby Connaught scheme since 2006, under one of the largest infrastructure PFI deals in the UK. It involves providing living and working accommodation for close to 19,000 soliders, around one fifth of the British army, in garrisons across Salisbury Plain and Aldershot.
The construction contract has a 拢1.45bn value and has involved building or refurbishing 562 buildings and demolishing nearly 500 more.
With more than 22 years remaining on the Aspire contract, KBR said the acquisition provided a 鈥渟table and profitable backlog鈥�.
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