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 LOGIN in 2024, is valued in this transaction at an EV/EBITDA multiple of LOGIN.
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
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.
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Historical Financials (GBP)
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REFERENCES
Revenue range: 450M - 900M GBP
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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Press release: view release
Target: fm conway
Acquirer: vinci