Balfour Beatty, the international infrastructure group, announces today that its US Construction Services division has acquired Fru-Con Construction LLC, a leading water and wastewater infrastructure contractor, for a net cash consideration of US$20 million (£12 million).
Fru-Con, which is based in Virginia, has annual revenue of approximately US$80 million (£49 million) and was acquired from Bilfinger-Berger.
The acquisition adds to Balfour Beatty’s expertise in water infrastructure projects and will enable it to grow further in the mid-Atlantic and California markets, as well as other regions including the Carolinas, Georgia, Florida and Texas.
Balfour Beatty Chief Executive, Ian Tyler, said:
'The acquisition of Fru-Con is a significant step in enhancing our capabilities in the attractive US water market.”