Completion of Acquisition

1st Dec 2009 13:09



1 December 2009

BALFOUR BEATTY COMPLETES ACQUISITION OF SPAWMAXWELL 

Balfour Beatty announces the completion of its acquisition of SpawMaxwell Company, the largest interior construction contractor in Texas and the sixth largest general contractor in Houston. The business is being acquired from its management for a total cash consideration of up to $25 million.

The acquisition, which was announced on 13 November, enhances the position of Balfour Beatty Construction US as a single source of construction capabilities in the Texas building markets and is in line with its strategy of expanding in selected geographic markets.

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