Ground engineering contractor Van Elle has acquired Scottish piling and drilling specialist Albion Drilling for up to £3.5m.

Based in Stirling, Albion brings a strong track record of delivering complex infrastructure projects across Scotland.

Van Elle said Albion was a strategically aligned bolt-on acquisition that expanded its presence both geographically and in expertise in quarry and close-proximity blasting, marine drilling, ground stabilisation and rock anchoring.

Albion managing director Jim King and 31 staff will become part of the Van Elle Group with King will assume a wider role as Van Elle’s director for Scotland, reporting to chief operating officer, Malcolm O’Sullivan.

The £5.5m turnover firm will join Van Elle’s Specialist Piling division, which will now co-locate its facilities at Stirling to grow its Scotland-based capability to meet major long-term opportunities from the energy sector.

Founded in 1986, the business generated a £1m pre-tax profit in the year to January. It has built a track record in the energy sector, where Van Elle is currently delivering two energy infrastructure schemes in Scotland and expects to mobilise further, larger schemes in early 2025.

Van Ell will pay £2.1m upfront, and £0.6m funded by a 40.1p share issue and a deferred consideration of up to £0.8m cash payment subject to performance over two years.