VINCI Construction UK has acquired ION Property Group, combining it with VINCI UK Developments to create an expanded business focused on urban regeneration. The merged entity will operate under the ION Developments brand and be headquartered at the Port of Liverpool Building.
Existing projects and future pipeline
The two companies are already collaborating on major schemes including the Market Place in Derby city centre, Chester Northgate 2, Coventry Civic Centre, and Northwich Weaver Square. ION's existing portfolio, such as Borough Yard in Birkenhead, Stafford town centre, and Westgate Wakefield, will be delivered by the new group.
ION, privately owned for 36 years, brings a strong track record in transforming challenging sites. The combined business aims to target the local authority urban regeneration market, with a robust forward pipeline.
Leadership and changes
The merged business will be led by managing director Steve Parry and commercial director Rob Mason, both former ION directors, alongside finance director Ian Hudson from VINCI UK Developments. Shareholders Peter Hynd and Gavin Douglas will depart as part of the deal.
Steve Parry commented: "This is the ideal moment to bring together these two specialist businesses to create a single regeneration developer with the vision, experience, and resources to bring projects to life."
Peter Hynd added: "ION has delivered many transformational schemes regarded as 'too difficult', working closely with public sector partners. This deal stands as testament to our legacy."
Scott Wardrop, CEO of VINCI Construction UK, said: "We are delighted to confirm this agreement, which will create a consolidated development business that can harness our collective strengths to support local authorities."
