VINCI Construction’s UK division has acquired regeneration developer ION Property Group for an undisclosed amount.
The company plans to integrate its VINCI UK Developments arm to establish a new entity named ION Developments.
Headquartered at the Port of Liverpool Building, the new company will focus on the local authority urban regeneration sector.
The transition into a consolidated business will become effective from 1 May 2026.
VINCI UK Developments and ION currently collaborate on several initiatives, such as urban regeneration schemes in Derby city centre, Chester Northgate 2, the Coventry Civic Centre site and Northwich Weaver Square.
The combined company will also take forward ION’s existing projects, such as Borough Yard, Birkenhead, Stafford town centre, and Westgate Wakefield, ensuring these developments continue under the new business structure.
VINCI Construction UK CEO Scott Wardrop 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.”
A senior team will lead the merged business, with Steve Parry as managing director, Rob Mason as commercial director, both previously directors at ION, and Ian Hudson as finance director, who formerly headed the finance team at VINCI UK Developments.
The acquisition concludes ION’s 36 years as a privately run company and will result in the departure of outgoing shareholders and non-executive directors Peter Hynd and Gavin Douglas.
Parry said: “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 which has the vision, experience and resources to bring projects of all sizes to life.
“We already have a strong forward pipeline and the new structure will only enhance our capacity to deliver these and other future projects.”
