UK contractor increases presence in US as it completes acquisition of Centex Construction
Balfour Beatty has completed its acquisition of US company Centex Construction for £184.6m.
The acquisition, which was announced in February, is part of Balfour Beatty’s strategy to increase its presence in the US. Centex Construction has been renamed Balfour Beatty Construction LLC with immediate effect.
Ian Tyler, Balfour Beatty chief executive, said: “Centex Construction is a high-quality building company which gives us profitable critical mass in the US in a core Balfour Beatty business and brings substantial new business development opportunities. We anticipate that it also will make a strong, immediate contribution to growth and generate significant value for our shareholders.”