Ferrovial in €443 million UK acquisition
By Helen Wright21 February 2013
Spanish contractor Ferrovial is to acquire UK-based repair and maintenance contractor Enterprise for £385 million (€443 million). It claims the deal, which will see Enterprise operate through its Amey subsidiary, will double its presence in the UK services market.
Enterprise provides environmental, property and utilities services as well as road maintenance work and reported revenues of £1.1 billion (€1.2 billion) last year, excluding its joint venture with Mouchel, which is not included in this acquisition.
Combined, Enterprise and Amey will produce revenues of around £2.3 billion (€2.6 billion) and boast an order book of £8.2 billion (€9.4 billion).
Ferrovial said the deal would accelerate its entrance into the utilities services market and enhance its position in environmental services. Mel Ewell, current CEO of Amey, will be appointed as CEO of the newly combined company once the transaction is completed.