Liverpool-based developer ION Property Group has been acquired by VINCI Construction UK, creating an expanded business with ambitions for significant future growth.
The UK division of VINCI Construction plans to merge ION with VINCI UK Developments to create a business focused on the local authority urban regeneration market. The merged entity will retain the ION Developments brand and operate from the Port of Liverpool Building.
The two companies are already collaborating on major urban regeneration projects: the Market Place scheme in Derby city centre, Chester Northgate 2, the Coventry Civic Centre site, and Northwich Weaver Square.
ION’s existing development portfolio—including Borough Yard in Birkenhead, Stafford town centre, and Westgate Wakefield—will be delivered by the newly combined group. ION operated privately for 36 years before the acquisition.
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 and non-executive directors Peter Hynd and Gavin Douglas will depart as part of the deal.
“At a time when local authorities and other public bodies across the UK are exploring new solutions for urban regeneration and the use of their land assets, 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 of all sizes to life,” Parry said. “We already have a strong forward pipeline and the new structure will only enhance our capacity to deliver these and other future projects.”
Hynd commented: “ION has delivered many transformational regeneration schemes that have had a positive impact on our towns, cities and communities by delivering high quality urban buildings that have created a sense of place. Many of these projects were regarded as ‘too difficult,’ but we have delivered consistently, working closely with our public sector partners. This deal with VINCI stands as testament to our legacy of success and we are proud to be leaving the business in such a strong position.”
Scott Wardrop, chief executive of VINCI Construction in the UK, said: “We are delighted to confirm this agreement, which will see the creation of a consolidated development business that can harness even more of our collective strengths and support greater numbers of local authorities and other clients to make a long-lasting, positive change to their communities across future generations.”