VINCI Construction has agreed to acquire UK-based public works company FM Conway in a strategic move to bolster its presence in the dynamic Southeast England market.
The acquisition is poised to enhance VINCI Construction's capabilities in roadworks, civil engineering and specialist services, and further solidify VINCI's already significant presence and performance in the UK market.
Financial details of the deal remain undisclosed by both companies. The closure of the transaction is dependent on the receipt of regulatory approvals, with completion expected in early 2025.
FM Conway, with expertise in roadworks, civil engineering and the production of asphalt and binders, also offers specialist services including water and drainage management, lighting, cabling and traffic management.
The company, founded in 1961 by Francis Michael Conway, is headquartered in Sevenoaks, Kent, with operations spread across England, focused particularly on the Southeast.
The integration of FM Conway into VINCI Construction's operations is anticipated to bring significant advantages, given VINCI's extensive global network of 1,300 business units in 100 countries.
VINCI Construction engages in the construction of buildings, civil engineering structures and mobility infrastructure, and places a strong emphasis on applying circular economy principles to its projects, aiming to provide sustainable and innovative solutions to its customers.
In the fiscal year 2023, the VINCI Group reported substantial activity in the UK, generating almost €6bn (just over £5bn) in total revenue across its three business lines — concessions, energy and construction — and employing13,000 people.
In mid October 2024, it reported a more-than-3% increase in revenue to €52.3bn for the first nine months of 2024. VINCI Construction’s revenue saw a decline in the third quarter of 2024 to €23.5bn. For the full year 2024, the company is expected to maintain business levels comparable to those in 2023, while also working to enhance its operating margin.
At the end of October, a consortium comprising VINCI Construction Grands Projets and the Walsh Construction Company was awarded a design-and-build contract by the Chicago Transit Authority for a 9km line extension and four new passenger stations.
The company also announced that the Balfour Beatty-VINCI joint venture recently achieved the halfway point in the HS2 Bromford Tunnel project, marking a significant milestone in the development of the HS2 route from London to Birmingham.
