VINCI Construction to acquire Fletcher Construction in $184m deal

VINCI Construction has agreed to get Fletcher Construction, a part of New Zealand-based Fletcher Building Group, for NZ$315.6m ($184m).

The transaction could emergence to NZ$334.1m depending connected the solution of respective ongoing contracts. Subject to regulatory approvals, the woody is anticipated to adjacent by the extremity of 2026.

The statement covers Fletcher Construction Holdings and its 3 concern units successful New Zealand: Higgins, which specialises successful civilian operation and roadworthy maintenance; Brian Perry Civil, focused connected structures and foundations; and Fletcher Construction Major Projects, which manages ample infrastructure developments for some nationalist and backstage assemblage clients.

The South Pacific operations of Fletcher Construction are excluded from the transaction. They volition beryllium managed separately, arsenic volition responsibilities related to antecedently completed vertical operation projects specified arsenic the New Zealand International Convention Centre.

Fletcher Construction employs astir 2,300 radical crossed New Zealand and reports yearly gross of astir €630m. Upon completion, these employees volition transportation to VINCI Construction.

Fletcher Construction specialises successful a wide scope of infrastructure projects, including hydraulic, maritime, port, airport, railway, and roadworthy works. Additionally, it has a increasing absorption connected the renewable vigor sector.

Fletcher Building has indicated it volition clasp work for bequest operation matters not included successful the woody and expects to marque further provisions of betwixt NZ$55m and NZ$65m related to probable aboriginal claims connected these retained contracts.

Fletcher Building managing manager and CEO Andrew Reding said: “Having undertaken extended marketplace soundings, we are assured that the merchantability to VINCI is the close transaction for our shareholders, Fletcher Construction and the broader New Zealand operation industry.

“I judge Fletcher Construction volition find a beardown location with VINCI, whose strengths are good aligned with the business, and which has a proven way grounds of successfully delivering large infrastructure projects globally.”

VINCI generated much than €900m successful gross successful New Zealand during 2024.

With the acquisition, VINCI aims to grow its beingness successful New Zealand’s civilian engineering and infrastructure marketplace alongside its existing subsidiary HEB Construction.

"VINCI Construction to get Fletcher Construction successful $184m deal" was primitively created and published by World Construction Network, a GlobalData owned brand.

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