Interior Services Group (ISG), a UK-based construction manager, has acquired Pearce Group for an initial consideration of £12.8 million. A further £9 million is payable within the next two years, dependent on targets being met.

Interior Services Group (ISG), a UK-based construction manager, has acquired Pearce Group for an initial consideration of £12.8 million. A further £9 million is payable within the next two years, dependent on targets being met.

ISG delivers new build, refurbishment and fit-out services internationally with operations in the UK, Europe and Asia.

Established in 1922, Pearce is an established UK construction company with leading-retail clients such as Asda, M&S, Sainsbury and Tesco.

ISG expects the acquisition to enable the business to offer its clients a national delivery capability through its existing regional construction operations, particularly for clients in the food retailing sector.

The transaction is expected to be earnings enhancing from the current year.

Independent research conducted for ISG identified a number of UK food retailers planning to invest significant amounts on their retail estates over the next five years.