French construction giant VINCI has announced an agreement to buy infrastructure services company FM Conway for an undisclosed sum, in a move aimed at strengthening its position in the UK market.
FM Conway, which employs over 2,000 staff and operates a fleet of around 250 vehicles, specialises in public projects.
Its services include roadworks, civil engineering, asphalt and binders’ production, water and drainage management, lighting, cabling and traffic management.
Founded in 1961 by Francis Michael Conway, the Sevenoaks-based company is owned by the Conway family and operates across England, with a particular focus on the South East.
The completion of the transaction is subject to any necessary regulatory approvals and is expected in early 2025.
Announcing the deal, VINCI Construction said the integration of FM Conway will strengthen its position in the South East.
FM Conway’s turnover in the financial year ending March 2024 was £580m. The value of the deal has not been disclosed.
Commenting on the acquisition, Joanne Conway, FM Conway chief executive, said: “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.
“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.”
Scott Wardrop, VINCI Construction UK chief executive, said: “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.
“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.”
In 2023, VINCI Construction’s UK division generated a total revenue of £2.2bn – with a total workforce of 6,700 employees – through its five business lines - road construction firm Eurovia, maintenance services company Ringway, civil enginnering specialist Taylor Woodrow, VINCI Building and VINCI Facilities.
