精东影视

Lendlease has officially been renamed Bovis after the deal to buy the Australian firm鈥檚 UK contracting business was completed today by new owner Atlas Holdings.

Lendlease announced in early January that it was selling the UK construction business to the US private equity firm that owns cladding contractor Permasteelisa for 拢35m, 拢10m of which will be deferred until June next year.

精东影视 revealed a week later the Bovis name was returning with the move to reinstate one of construction鈥檚 historic marques coming after it vanished in 2011, a dozen years after Lendlease paid P&O 拢285m for its Bovis construction business in 1999.

Under its deal 26 years ago, Lendlease kept hold of the trademark for the Bovis name 鈥� which first emerged in 1885 when it was founded as CW Bovis by Charles Bovis.

In a statement this evening, Bovis said: 鈥淔ollowing the announcement on 2 January that Lendlease had entered into a binding agreement with Atlas Holdings for the sale of its UK Construction business, we confirm today that the transaction is complete. The existing business has been rebranded Bovis.鈥�

Bovis will be led by David Cadiot, who has been named chief executive of the rebranded business.

Cadiot was made managing director after former boss Simon Gorski left last summer, with Gorski since going on to set up his own consultancy business.

Atlas operating partner and member of the Bovis board of directors Peter Bacon said: 鈥淭he Lendlease UK team, now once again known as Bovis, has a long track record of successfully delivering large, complex projects and we look forward to working with their talented leadership team and associates to build upon the Bovis legacy in this next chapter.鈥�

>> See also: Surprise and relief: why the Lendlease sale to private equity is seen as a vote of confidence in UK contractors

The news is a tonic for a firm that has seen two high-profile jobs disappear in recent months.

Multiplex picked up the retendered 拢500m ITV Studios scheme at 72 Upper Ground on London鈥檚 South Bank last autumn while Mace last week was confirmed as the winner of the 拢600m Euston Tower for British Land after the developer sounded out others for the work it was carrying out pre-construction advice on.

Both jobs were readvertised after Lendlease put the UK business up for sale last May to concentrate on its domestic market.

Bovis is bidding the 拢1bn towers scheme at 18 Blackfriars, renamed the Round, in a partnership with McLaren. The pair are up against Multiplex for the job which is being let by Hines and where bids went in earlier this month.

Bovis is also carrying out work on a mixed-use scheme at the firmer London headquarters of Debenhams on Oxford Street while it is lined up to build a new stand for FA Cup semi-finalists Crystal Palace.