Vinci has acquired HEB Construction, which it describes as a leader in the New Zealand construction market. The value of the deal was not disclosed.
The company was founded more than 40 years ago and is active in the civil engineering, engineering structures, hydraulic engineering, road, earthworks and marine & port construction markets, among others. HEB Construction employs 750 people and generated revenue of some € 230 million (US$ 260 million) in 2014.
Vinci said the acquisition was part of its strategy to expand in high-growth international markets. It added that New Zealand’s construction and infrastructure sectors held out prospects for steady growth.
Philippe Chavent, chairman of Vinci Construction International Network, said, “HEB Construction’s fundamentals form an excellent fit with those of Vinci and its new projects reflect its vitality. One good example is the new contract notification in April of this year to build a 27 km four-lane urban motorway in Wellington. The project, in which HEB is participating as a member of a joint venture, has a value of more than € 500 million (US$ 560 million) and is one of the island’s largest current infrastructure projects.”