Ferrovial Sells UK-based Amey Group to Private Equity Investors
Photo Courtesy Amey Group
Spain's construction group Ferrovial S.A. has agreed to sell its U.K. services unit Amey Group to private equity investors in a deal with an enterprise value of $443 million. The sale almost completes Ferrovial's move deeper into infrastructure development, construction and management.
The sale "represents a step forward in our Horizon 24 business plan, focused on developing sustainable infrastructure to continue creating value for our shareholders, and the communities in which we operate," notes Ferrovial CEO Ignacio Madridejos.
The company will retain Amey's waste treatment operations within its energy infrastructure and mobility division, which also forms part of Ferrovial's Horizon 24 strategy.
Reporting total gobal revenue of nearly $11 billion, Ferrovial ranks at No. 9 on the 2022 ENR Top 250 Global Contractors list. With a workforce of 11,000, excluding the waste unit, Amey reported $1.6 billion in sales last year.
“Amey is a well-regarded, long-standing player in the critical infrastructure design and management space in the U.K.,” said Ante Kusurin, principal at private equity firm One Equity Partners, which is making the acquisition along with Buckthorn Partners.
"Amey’s consulting and engineering services are essential to expedite the energy transition by improving the performance of transport and building infrastructure," added Nicholas Gee, Buckthorn founding partner.
Ferrovial acquired Amey in 2003 for $90 million. Active in the U.K. public-private finance business, it had become burdened with debt and has been forced to sell its infrastructure assets and focus on fee-based service operations.
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