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Kier Group has snapped up waste management firm Pure Recycling and Pure 好色先生TVs for 拢7.1m in what is expected to be the first of a series of similar acquisitions.

The deal was unveiled as Kier issued a trading statement in which it said its numbers were in line with forecasts and that it was on track to deliver an 鈥渆ncouraging underlying performance this year鈥�.

A source familiar with the company鈥檚 plans said Kier was currently a 鈥減retty aggressive鈥� player in the acquisition market and was actively looking for deals. The source said: 鈥淭he company is very keen to move away from its traditional construction background and areas like waste and facilities management are its priorities.鈥�

The deal will be seen as a continuation of Kier鈥檚 drive to diversify its revenue streams to make it less reliant on construction work.

Kier鈥檚 last significant purchase was in September 2009, when it acquired Telereal Trillium鈥檚 investment in Kent鈥檚 好色先生TV Schools for the Future Local Education Partnership to provide 34 secondary schools in Kent. Before that it bought Hugh Bourn Developments in 2006.

Paul Sheffield, Kier鈥檚 chief executive, said: 鈥淭his puts us in a very strong position to capitalise on a growing market sector where the cost of sending waste to landfill is becoming increasingly prohibitive. It also creates synergy with our existing Street Services business by enabling us to offer an integrated waste collection and recycling solution for customers.鈥�

Andy Brown, an analyst at Panmure, said: 鈥淭he acquisition makes a lot of sense. It is the type of purchase we鈥檇 expect a company like Kier to be doing at the moment, expanding its services business.鈥�

Elsewhere in the sector鈥檚 still-depressed M&A market, Morgan Sindall鈥檚 social housing arm Lovell is poised to acquire MJ Gleeson鈥檚 social housing maintenance division Powerminster Gleeson Services after weeks of talks.