UK firm boosts US expansion by £15m acquisition of Texan firm SpawMaxwell
Balfour Beatty has bought Texan interior construction contractor SpawMaxwell for $25m (£15m).
The deal forms part of the UK company’s strategy of expanding in key US markets and follows the $40m (£27.5m) acquisition of RT Dooley in North Carolina in February.
SpawMaxwell is the largest interior construction contractor in Texas and the sixth largest general contractor in Houston with offices also in Austin and Dallas. The company said the deal boosts Balfour Beatty Construction US’s credentials as a single source of construction capabilities in the Texas building markets.
Its clients include The City of Houston, Memorial Hermann Healthcare System and Gulf States Toyota.
Balfour Beatty chief executive Ian Tyler, said: “The acquisition of SpawMaxwell provides us with a substantial presence in key Texas markets outside Balfour Beatty Construction's base in Dallas and enables us to provide an expanded range of services for customers.”