Colas to buy Finnish road and rail specialist
By Mike Hayes01 September 2021
French engineering firm continues growth strategy with acquisition of Destia
French engineering company Colas has signed an agreement to acquire the Finnish road, rail and energy specialist Destia, for an undisclosed sum.
Destia, which generated revenue of €564 million in 2020, is currently held by the family-owned Ahlström Capital Group.
Colas said the move was in line with its strategy of expansion in Northern Europe, where it believes strong growth will be seen within the construction and maintenance of transport infrastructure.
The company’s stated expansion strategy also includes markets in Germany and North America.
Francis Grass, MD of Colas EMEA, said, “We are very impressed by Destia’s skills and expertise, particularly in terms of digitalisation of construction sites and maintenance services in harsh weather conditions. We see the opportunity to further develop business lines such as rail and earth & rock services and Colas will bring onboard its expertise in complex projects management.”
Lasse Heinonen, president and CEO of Ahlström Capital, said, “Together with the management of Destia, we have developed the company to a leading infrastructure service provider in Finland in a competitive market. The company has strengthened its capabilities in many key areas including digitalization in maintenance business. With Colas as a new industrial owner, the company is in good hands for the next phase of its growth journey, in Connecting Northern Life.”