French road, rail and urban infrastructure company Eurovia has signed an agreement with Salini Impregilo Group of Italy to acquire the Lane Asphalt Plants and Paving division of its subsidiary Lane Construction, US, for a total consideration of $555m.
Lane Construction’s operations cover industrial activities and roadworks in 10 states on the US East Coast and in Texas.
These operations generate annual revenue of more than $600m and include approximately 40 asphalt-production plants and several quarries.
The acquisition complements Eurovia’s operations in the US. Its subsidiaries Hubbard Construction and Blythe Construction operate in the Southeastern states of Florida, Georgia, North and South Carolina.
Subject to regulatory approval in the US, the acquisition will make Eurovia one of the largest asphalt producers on the East Coast with total revenue of about $1.2bn. The acquisition will also enable Eurovia to double its size in the country.
Previously, in another deal, Eurovia had signed an agreement to acquire 100% of the shares of Quebec civil engineering contractor Pavages Chenail in Canada.
The Pavages Chenail group employs 200 people and has generated revenue of CAD70m (€45m) in 2017. It operates two large quarries and three asphalt concrete plants in the region of Montreal and Monteregie.
This acquisition reinforces the Eurovia Québec teams and network in 10 regions of the province.
Eurovia Québec delivers transport infrastructure and urban development projects for public and private sector customers.
It operates in the Canadian provinces of Québec, Saskatchewan, Alberta and British Columbia and employs nearly 2,000 people in Canada, where it generated more than €400m (CAD600m) in revenue in 2017.
Eurovia, a Vinci Group subsidiary, builds roads, motorways, railways, airports and tramways, and develops industrial, commercial and urban facilities. The company has operations in 16 countries.
Vinci is involved in concessions and contracting and has operations in nearly 100 countries. The company designs, finances, builds and operates infrastructure and facilities that help improve daily life and mobility for all.
Image: Eurovia to acquire Salini’s US asphalt plants, paving business in $555m deal. Photo: VINCI.