BB sells Fru-Con to BB

The US Construction Services Division of Balfour Beatty announced on 17 June it had acquired Fru-Con Construction LLC from Bilfinger Berger for a net cash sum of USD 20M (GBP 12M).

Virginia-based water services contractor Fru-Con enjoyed annual revenues of around US 80M (GBP 40M).

Balfour Beatty chief executive Ian Tyler said, “The acquistion of Fru-Con is a significant step in expanding capabilities in the attractive US water market.” It will promote Balfour Beatty growth in the mid-Atlantic and California markets primarily, plus the Carolinas, Georgia, Florida and Texas.

Fru-Con was founded in 1872 and at the time of the deal had 150 employees working on major plant projects in Maryland and Virginia, and completed the award-winning US-136M Water Pollution Control Plant Upgrade and Expansion project in Arlington, Virginia, last year.

Bilfinger Berger sold other of its assets recently, which included Australian subsidiary, Valemus Australia, in March. The stated aim was to use the funds to further expand its services activities and increase scope for investment in corporate development.