Crane group deal

Billionaire owner of French group swoops on Sparrows

Sparrows employs about 2,000 staff

Crane hire and energy services company Sparrows Group has been acquired by French industrial services firm Altrad for an undisclosed sum.

About 2,000 workers from Bridge of Don-based Sparrows will transfer to the new owner when the deal closes in the second or third quarter of the year.

Altrad, which already has a north-east operation in Dyce, said the group will run independently within the wider organisation, “therefore redundancies are unlikely”.

Billionaire Mohed Altrad set up the company in 1985 and it now employs 40,000 in 170 businesses around the globe. It reported a turnover of €2.7 billion (£2.25bn) last year.

Sparrows was founded in 1946 and was in the ownership of Jersey-registered Hawk Caledonia.

The company recently marked its 75th year and has operations in the Americas, the Middle East, Europe, Asia and Australia.

Stewart Mitchell, chief executive, said: “This is a hugely exciting time for Sparrows, and we are looking forward to joining Altrad.”

Leave a Reply

Your email address will not be published. Required fields are marked as *

This site uses Akismet to reduce spam. Learn how your comment data is processed.