Eurovia complete acquisition of Carmacks
Vinci Group subsidiary consolidates presence in strategic development area with acquisition of Canadian company
FOLLOWING the approval of the Canadian competition authorities, Eurovia, a subsidiary of Vinci Group, have acquired Carmacks, a group of companies based in Edmonton, Alberta.
Carmacks deliver highway construction and maintenance works but also operate and maintain road infrastructure under long-term contracts in Edmonton and Calgary. Traditionally active with local public authorities, the group has also developed a portfolio of private sector clients.
Carmacks generate revenue of around C$200 million (approximately €150 million) and are active throughout the Canadian province of Alberta, which is experiencing rapid economic growth.
Canada is a strategic area of development for Eurovia who, with this latest acquisition, now operate in three provinces (Alberta, British Columbia and Quebec), further consolidating their position following the acquisition of Vancouver-based BA Blacktop in 2009.
Commenting on the deal, Jacques Tavernier, chairman and chief executive officer of Eurovia, described the acquisition as ‘a significant step’ in the company’s strategy of consolidating its presence in Canada, as well as developing its business model integrating production, roadwork and maintenance.
Keith James, president of Carmacks, commented: ‘We are very excited to become part of Eurovia and Vinci. It represents a great opportunity for Carmacks and our employees to develop our business, our technological know-how and reinforce the services we provide to our clients.’
Eurovia are a leading global player in the construction, maintenance and repair of road and rail transportation infrastructures. The company is active in 16 countries, employs 40,000 people and generated revenues of €8.7 billion in 2011.