FM Conway acquired by Vinci
Context
VINCI has entered into an agreement to acquire FM Conway, a leading UK-based infrastructure and public works company, as part of a strategic expansion of its operations in the United Kingdom. The transaction encompasses all of FM Conway's activities and aims to integrate the company into VINCI's existing operational platforms in the country. This acquisition enables VINCI to strengthen its presence in southeast England, a region characterized by significant investment momentum in infrastructure and urban services. FM Conway brings a complementary set of skills to VINCI's existing UK operations, particularly in highway maintenance, civil engineering, materials production, and specialized technical services. The integration is also expected to enhance the group's capabilities in direct delivery models and material circularity.
FM Conway, which reported an EBITDA margin of [members only] in 2024, is valued in this transaction at an EV/EBITDA multiple of [members only].
Target
FM Conway is a UK-based group specializing in transportation infrastructure, civil engineering, and urban maintenance services. Founded in 1961 by the Conway family, the company has evolved into a leading integrated infrastructure services provider in the UK, with a strong presence in Southeast England. The group operates across a broad spectrum of activities, including the construction and maintenance of road networks, civil engineering projects, the manufacture of road materials, and specialized services related to urban infrastructure, such as water and drainage management, public lighting, cabling networks, and traffic management. Additionally, FM Conway has a significant industrial presence through its manufacturing activities, particularly in the production of asphalt and recycled materials. This vertical integration enables the company to control a substantial portion of its value chain.
Ent. Value
[members only]
Equity Value
[members only]
Multiples
EV / Revenue
[members only]
EV / EBITDA
[members only]
EV / EBIT
[members only]
Historical Financials (GBP)
Other operations with Vinci
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 01/2026 | VINCI | FLETCHER CONSTRUCTION | NEW ZEALAND | Infrastructure |
| 04/2021 | VINCI | COBRA IS (ACS ENERGY) | SPAIN | Public Works |
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REFERENCES
Revenue range: REV £450–900M
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of FM Conway by Vinci are reserved for mynth community members. Register for free to unlock full data.
Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Target: fm conway
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