VINCI Construction and FM Conway have confirmed a deal which will see the latter acquired by VINCI Construction.
Under the terms of the agreement, FM Conway and its entities will join the network of VINCI Construction.
“We’re a proud family business that has grown considerably through sheer hard work and determination to become an industry leader and a significant part of the UK’s critical infrastructure delivery,” said Joanne Conway, chief executive officer and executive group chair at FM Conway.
“The time is now right for the next chapter of our growth story. Beyond the obvious operational and commercial synergies, we share a set of values with VINCI and an approach to business that’s about putting people first, doing great work, and respecting the communities we operate in.”
VINCI Construction’s UK division includes 6700 employees across five business lines Eurovia (road construction), Ringway (maintenance services), Taylor Woodrow (civil engineering), VINCI Building (building) and VINCI Facilities (facility management). It also maintains an Australian subsidiary in Seymour Whyte which is a recognised name working in major infrastructure projects across the country.
FM Conway was established in 1961 and has remained owned by the Conway Family. It specialises roadworks, civil engineering, asphalt and binders’ production as well as a range of specialist businesses (water and drainage management, lighting, cabling and traffic management). It has headquarters in Sevenoaks, Kent but operates across England. It is known for its use of high recycled asphalt on the local and strategic road networks across England.
“This acquisition is a clear indication of our ambition to strengthen our business, through greater self-delivery and grow the circular economy in our UK market sectors,” said Scott Wardrop, chief executive of the UK Division of VINCI Construction.
“FM Conway is an excellent commercial and cultural fit for us, especially for Ringway, Eurovia and Taylor Woodrow. It has a powerful heritage and we are privileged to be in a position to build on the Conway family’s legacy. We’re looking forward to working alongside the FM Conway team to take the business to the next stage.”
The acquisition is subject to regulatory approval and is expected to close in early 2025.
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