Vinci Construction has announced its intention to acquire FM Conway, a major player in infrastructure services, for an undisclosed sum.
- FM Conway reported a revenue increase to £580m for the financial year ending March 2024.
- The acquisition aims to enhance Vinci’s self-delivery capabilities and strengthen its position in the UK market.
- Regulatory approval is pending, with the deal expected to conclude in early 2025.
- FM Conway’s CEO emphasised aligning values and growth ambitions with Vinci Construction.
Vinci Construction is set to acquire FM Conway, a significant infrastructure services firm, enhancing its presence in the UK market. The agreement was recently signed, with the transaction amount undisclosed, and it is currently awaiting regulatory sanctions, anticipated to conclude by early 2025.
FM Conway, a family-owned entity, reported an impressive turnover of £580 million for the year ending in March 2024, showcasing steady financial growth over previous years. Despite a slight dip in pre-tax profits, the company has remained profitable and is ranked as the 37th biggest contractor in the UK.
Joanne Conway, FM Conway’s CEO, highlighted the company’s shared values with Vinci Construction, noting a focus on community respect and workforce welfare. “The time is now right for the next chapter of our growth story,” she remarked. This sentiment underlines the strategic fit between the two companies, particularly in operational and commercial synergies.
Vinci’s CEO, Scott Wardrop, articulated the acquisition as an ambitious step towards bolstering self-delivery and sustainable practices in the UK. Vinci’s recent turnovers have been substantial, although they recorded a loss, indicating room for improvement and restructuring efforts.
The acquisition marks another chapter in Vinci’s expansion narrative, positioning itself further up the list of top UK contractors. FM Conway’s integration is expected to complement Vinci’s existing operations, particularly in sectors handled by subsidiaries such as Ringway, Eurovia, and Taylor Woodrow.
This strategic acquisition is set to reshape Vinci’s presence in the UK construction market.
