Netherlands-based Royal BAM Group has acquired all the shares of mechanical and electrical company FED Holding, which is based in Saint-Nicolas, Belgium. The shares were held by FED Holding's management.
FED Holding comprises seven companies for mechanical and electrical contracting, services and security installations. These companies operate under their own name in and around Liège, Brussels and Charleroi.
FED Holding's turnover in 2007 amounted to about € 35 million and the seven companies employ a workforce of 220.
In a statement BAM said the takeover was in line with its strategy, which was set out at the end of 2006 when the Strategic Agenda 2007-2009 was announced.
"[The acquisition] represents a significant reinforcement of BAM's construction, property and civil engineering activities in Belgium. FED Holding will be part of BAM Wallonie, which also comprises the companies Galère, Balteau and FFK. FED Holding has been working with Galère intensively for many years," said the statement.