Vinci expands in Canada with Carmacks acquisition
By Scott Jamieson
March 15, 2012, Edmonton, AB – Eurovia, a
subsidiary of the VINCI Group, has just signed an agreement to acquire Carmacks,
a group of roadbuilding companies based in Edmonton, and very active in both Alberta and Saskatchewan.
Carmacks delivers highway
construction and maintenance works but also operates and maintains road
infrastructure under long-term contracts in Edmonton and Calgary. Traditionally
active with local public authorities, the group has also developed a portfolio
of private sector clients. Carmacks generates
revenue of about C$200 million (approximately €150 million) and is active
throughout the Canadian province of Alberta, which is experiencing rapid
acquisition, Eurovia, one of the world leaders in construction and maintenance
of road and rail transport infrastructure, will now operate in three Canadian
provinces – Alberta, British Columbia and Quebec.
MNP Corporate Finance Inc.'s Construction Industry M&A team acted as the principal financial advisor to the shareholders and senior management of Carmacks in negotiating and structuring the sale transaction with the buyer, which closed March 1st. The transaction is
subject to approval by the Canadian competition authorities.