Osborne’s infrastructure business is set to be acquired by London-based investment firm Sullivan Street Partners as part of a series of acquisitions in the construction industry.
The family-owned construction, civil engineering and property maintenance company has agreed to sell Osborne Infrastructure Ltd for an undisclosed amount.
It follows CBRE’s deal last month to buy 60% of Turner & Townsend for £ 960 million and Tetra Tech’s acquisition of M&E advisor Hoare Lea.
Osborne Infrastructure will continue to be led by current Managing Director John Dowsett, who will be named Chief Executive.
David Fison, former CEO of Skanska UK and the Osborne Group, will join the company as Chairman.
Dowsett said the acquisition would help the company achieve the growth ambitions set out in its business plan.
Fison, who stepped down from his position at Skanska UK in 2008 after the company posted losses of nearly £ 50m, was CEO of Osborne from 2009 to 2015.
He has also held numerous non-executive director positions, including for the Olympic Delivery Authority, Build UK predecessor UKCG, London City Airport and the Covent Garden Market Authority.
Osborne CEO Andy Steele said the sale was an “exciting milestone” that would give the group “more clarity on the purpose”.
“Having won the best sponsor for Osborne Infrastructure Ltd, we now have a great opportunity to prioritize our investments and focus our energies and resources on becoming market leaders in the housing and education sectors.”
Osborne Infrastructure specializes in railways and motorways and has clients such as Network Rail, Highways England and Transport for London.
It is based on several frameworks, including the CDF framework from Highways England and the IPSF framework from Network Rail, and has completed more than 200 bridge projects.