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Heery International In Joint Venture With Grupo Lar In Spain

The new company will be called Heery Professional Services SA and will be based in Madrid.

Graham Rice, Managing Director, Heery International, said today: “We have been discussing the possibility of a more formal link with Grupo Lar since we started work on their Crisalis Building project last July. Both sides felt comfortable with each other and the formation of this company is a logical next step in our relationship.

“We see this as a win, win situation. Heery gains increased profile in Spain, additional construction staff with local experience, high level access to other Spanish developers and a workload through negotiable work on Grupo Lar projects. Grupo Lar gain from Heery’s 50 years experience in the management of construction projects, access to its international client base and the development of a value adding service to their portfolio”.

Grupo Lar have just announced a relationship with Grosvenor Estates to extend their portfolio in retail and commercial office projects. Their current retail and commercial portfolio will be integrated into the new Grupo Lar Grosvenor joint venture company.

A Board of Directors has been established with two Managing Directors – James McStay from Heery International and Paco Ordóñez from Grupo Lar. The day-to-day management will be undertaken by Mike Lawrence – a long-term Heery International senior Project Manager, who has worked in Spain since 1990.

ENDS

Enquiries to:-

Tim Sharp
Balfour Beatty plc
Tel: +44 (0)20 7629 6622

NOTES TO EDITORS:

GRUPO LAR

- Grupo Lar are a family owned developer working in Spain and Portugal. Their original focus was in residential work but they now develop office and retail projects.

- Goldman Sachs provide financial backing to Grupo Lar through their Whitehall fund.

HEERY INTERNATIONAL

- Heery has been undertaking professional project management, construction management and other construction professional consultancy services for more than 50 years with a total value in excess of £40 billion.

- The company applies its expertise to successfully complete projects to demanding time, cost and quality standards from pre-design through to occupancy.

- Heery has a global presence operating principally from offices throughout the USA and from its London-based European division with offices in Edinburgh, Berlin, Madrid and Paris.

- Every customer has different needs and Heery’s services are tailored to meet the specific goals and requirements of each individual customer as illustrated in the following contracts: The Mall at Cribbs Causeway and Ocean Terminal, Leith. Work for BAA at Heathrow terminal 3, Edinburgh & Glasgow Airports. The refurbishment of the Bank of England and also Somerset House for the Gilbert Collection. Higher education projects for Kings College, London, City University, Imperial College and Oxford University. In the US projects include the Atlanta Olympic Stadium/Turner Field Baseball Stadium and the Home Depot Stores’ Support Centre, Atlanta.