Balfour Beatty, the international infrastructure group, announces today that its US Construction Services division has acquired Fru-Con Construction LLC, a leading water and wastewater infrastructure contractor, for a net cash consideration of US$20 million (£12 million).
Fru-Con, which is based in Virginia, has annual revenue of approximately US$80 million (£49 million) and was acquired from Bilfinger-Berger.
The acquisition adds to Balfour Beatty’s expertise in water infrastructure projects and will enable it to grow further in the mid-Atlantic and California markets, as well as other regions including the Carolinas, Georgia, Florida and Texas.
Balfour Beatty Chief Executive, Ian Tyler, said:
"The acquisition of Fru-Con is a significant step in enhancing our capabilities in the attractive US water market.”
Balfour Beatty plc
Tel 020 7216 6924
Balfour Beatty plc
Tel 020 7216 6847
Notes to Editors:
Balfour Beatty (www.balfourbeatty.com) is a world-class infrastructure group with capabilities in professional services, construction services, support services and infrastructure investments.
We work in partnership with our customers principally in the UK, continental Europe, the US, South-East Asia, Australia and the Middle East, who value the highest levels of quality, safety and technical expertise.
Key infrastructure markets include transportation (roads, rail and airports); social infrastructure (education, specialist healthcare, and various types of accommodation); utilities (water, gas and power transmission and generation) and commercial (offices, leisure and retail).
The Group delivers services essential to the development, creation and care of these infrastructure assets including project design, financing and management, engineering and construction, and facilities management services.
Balfour Beatty employs 50,000 people around the world.
Founded in 1872, Fru-Con is among the oldest contractors in the United States.
The company, which has 150 employees, constructs water and wastewater treatment plants and currently has major projects underway throughout the Maryland and Virginia area.
It completed the award-winning US$136 million Water Pollution Control Plant Upgrade and Expansion Project for Arlington County, Virginia, in 2010.