Ferrovial completes the acquisition of Enterprise Published on 09/04/2013
Ferrovial has completed the acquisition of Enterprise, following approval by the European Competition Authorities. The deal was announced in February. This acquisition fits the strategic objective of driving growth through strategic acquisitions and further strengthens the Services business. Enterprise will now be integrated into the UK Ferrovial Services subsidiary, Amey, creating one of the most diverse companies in the sector.
Ferrovial, through subsidiary Ferrovial Services, has completed the acquisition of Enterprise, one of the UK’s leading providers of services to utilities and the public sector. The deal will see Ferrovial Services increase its size as well as further strengthening its offer to the market. The company announced its plans to acquire Enterprise from international investor 3i for an enterprise value of 385 million pounds (443 million euro) in February.
This transaction coupled with the recent acquisition of Chilean Steel Ingeniería, furthers Ferrovials strategic objective of driving growth, strengthening its Services business and expanding internationally through strategic acquisitions.
The integration of Enterprise into Amey, Ferrovial Services subsidiary in UK, will create one of the most diversified companies in its sector, with over 21,000 employees and revenues in excess of 2.6 billion euro. Amey will now operates over 320 contracts, providing an unrivalled range of services including; utilities, highways, waste management, rail, justice solutions, social housing and facilities management. Services are underpinned by their leading consulting and asset management capabilities which allows them to offer stand-alone or integrated service solutions across nearly every county of the UK. Mel Ewell, currently CEO of Amey, has been appointed chief executive of the new company.
Ferrovial Services is a leader in Spain and the UK in its main areas of activity: infrastructure maintenance, environmental services, facility management, and energy efficiency. It recently expanded into Poland and Qatar. Moreover, in March it announced the acquisition of 70% of Steel Ingeniería, a specialised mining services company in Chile, for 21 million euro. This is Ferrovial’s first venture in mining services.