REG - Van Elle Holdings - Disposal of Canadian Subsidiary

Van Elle HoldingsAnnouncement

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RNS Number : 4756L  Van Elle Holdings PLC  15 December 2025

 

Van Elle Holdings plc

('Van Elle', the 'Company' or the 'Group')

 

Disposal of Canadian Subsidiary

 

Van Elle announces that it has agreed to dispose of the entire share capital
of, and all assets pertaining to, its Canadian subsidiary, Van Elle Canada
Inc, ("Van Elle Canada") to 1560169 B.C. Ltd. which is a SPV established for
the purposes of this transaction, operating in a management partnership with
leading Canadian rail contractor, Remcan Projects LP, effective 30 November
2025 (the "Disposal").  The Disposal is expected to complete on or around 17
December 2025.

 

The Disposal proceeds total approximately CAD $4.7m, comprising an initial
cash payment of CAD $2.7m, and deferred cash consideration of approximately
CAD $2.0m which is payable between 31 January 2026 and 31 July 2026. The
initial consideration is equal to the net book value of certain fixed assets
in Canada, and the deferred consideration remains subject to closing balance
sheet adjustments.

 

Under new ownership, Van Elle Canada will have access to greater local
resources to pursue the considerable opportunities identified in Ontario and
beyond, and to build on the progress made since Van Elle entered the Canadian
market in 2023. Van Elle's rail division will continue to provide advisory
services to Van Elle Canada under a consultancy agreement.

 

Chief Executive, Mark Cutler, commented:

 

"Our diversification into Canada was a strategic initiative to mitigate the
impact of UK rail sector investment cyclicality. Since 2023, Van Elle Canada
has secured several important frameworks which, despite delays to date,
provide a significant opportunity for the new owner to take to the next stage,
with Van Elle continuing to provide specialised technical support."

 

 

Certain information contained in this announcement would have constituted
inside information (as defined by Article 7 of Regulation (EU) No 596/2014),
as it forms part of domestic law by virtue of the European Union (Withdrawal)
Act 2018) ("MAR") prior to its release as part of this announcement and is
disclosed in accordance with the Company's obligations under Article 17 of
those Regulations.

 

 

For further information, please contact:

 Van Elle Holdings plc                                         Via Walbrook

 Mark Cutler, Chief Executive Officer

 Graeme Campbell, Chief Financial Officer

 Peel Hunt LLP (Nominated Adviser and Joint Broker)            Tel: 020 7418 8900

 Ed Allsopp

 Charlotte Sutcliffe

 Tom Graham

 Dowgate Capital Limited (Joint Broker)                        Tel: 020 3903 7715

 James Serjeant

 Dan Ingram

 Walbrook PR Limited                                           Tel: 020 7933 8780

                                                               or vanelle@walbrookpr.com
 Tom Cooper                                                    07971 221 972

 Nick Rome                                                     07748 325 236

 

 

About Van Elle Holdings plc:

 

Van Elle Holdings is the UK's largest specialist geotechnical engineering
contractor. Formed in 1984 and listed on AIM in 2016, the Company provides a
wide range of ground engineering techniques and services including ground
investigation, general and specialist piling, rail geotechnical engineering,
modular foundations, and ground improvement and stabilisation services.

 

Van Elle operates through three divisions: General Piling, Specialist Piling
and Rail, and Ground Engineering Services; and is focused on diverse end
markets including residential and housing, infrastructure and regional
construction - across which the Group has completed more than 20,000 projects
over the last 35 years.

 

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