Bam agrees subsidiary sale

Dutch-based Bam has agreed to sell its construction and properties subsidiary Heilijgers, to its present management team, in a management buyout deal.

Bam said the deal was part of its ‘building the presence, creating the future’ strategy, which the group recently announced.

The company added that the buyout would offer Heilijgers opportunities for further growth, where Bam believed it could take it no further.

Heilijgers employs over 100 people and recorded revenues of €40 million in 2015.