Balfour Beatty Acquires US Contractor Fru-Con

Balfour Beatty Acquires US Contractor Fru-Con

June 17, 2011 -- Balfour Beatty, the international infrastructure contractor, announced today that its U.S. Construction Services division has acquired Fru-Con Construction LLC, a leading water and wastewater infrastructure contractor, for a net cash consideration of US$20 million (£12 million).

Fru-Con, which is based in Virginia, has annual revenue of approximately US$80 million (£49 million) and was acquired from Bilfinger-Berger.

The acquisition adds to Balfour Beatty’s expertise in water infrastructure projects and will enable it to grow further in the mid-Atlantic and California markets, as well as other regions including the Carolinas, Georgia, Florida and Texas.

"The acquisition of Fru-Con is a significant step in enhancing our capabilities in the attractive U.S. water market,” said Balfour Beatty Chief Executive Ian Tyler.