Seeking to expand into new territory and market segments, Skanska USA, New York City, has acquired Evansville, Ind.-based Industrial Contractors Inc., a leading midwest industrial and energy contractor. The $135-million cash deal, announced Dec. 29, also includes three ICI-affiliated companies. Skanska will integrate the units into its Skanska Civil operation and intends to use the new base to expand its transportation services into the Midwest, says Richard Cavallaro, Skanska Civil president and CEO.
ICI ranks at no. 173 on ENR's list of the Top 400 Contractors, with $318.9 million in 2010 revenue. About 53% is in the power sector and 32% in industrial work. Skanska says the firm will report nearly $500 million in revenue this year. About 2,400 employees are joining Skanska.