VINCI has reached an agreement with McConnell Dowell (Aveng Group) to acquire Electrix
19 September 2014 - 6:28 pm - Acquisitions - New-Zealand
VINCI Energies has reached an agreement today to acquire Electrix from McConnell Dowell, a subsidiary of South African group Aveng.
Electrix was originally based in New Zealand and has been developing in Australia during recent years. It is principally active in the very-high- to low-voltage electricity network installation and maintenance market, and in industrial and commercial markets.
Electrix generated revenue in the vicinity of €280 million in 2013 and employs approximately 2,000 people.
This acquisition, which should be finalised during the next two months, is a new milestone in VINCI Energies’ expansion outside Europe and provides a solid base for its future development in Oceania in general and Australia in particular.
Operating in about 50 countries, including some 30 outside Europe, VINCI Energies generated revenue of €9.25 billion in 2013 and employs 63,000 people. Thanks to its close-knit network of 1,500 business units, VINCI's Energy business line is now a leading provider of energy and information technology services.
VINCI is a global player in concessions, energy and construction businesses, employing more than 260,000 people in nearly 120 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, we are committed to operating in an environmentally, socially responsible and ethical manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. Based on that approach, VINCI’s ambition is to create long-term value for its customers, shareholders, employees, partners and society in general.