Bouygues Construction is strengthening its position in the Australian market after announcing the acquisition of Sydney-based construction firm AW Edwards Pty Limited.
Bouygues Bâtiment International, a subsidiary of Bouygues Construction, will purchase all the company’s shares and its brand name will be retained.
AW Edwards, operating since 1921, specialises in the building sector and, according to a statement from Bouygues Construction, recorded sales of AU$277 million in 2017 and employs 250 people.
Bruce Edwards, Managing Director and owner of AW Edwards, said the business was excited about the opportunity that joining with Bouygues Construction presents for the business.
“The transaction will see AW Edwards keep its strong position in the building sector, with the additional resources, geographic reach and expertise of Bouygues Construction behind us at every step,” Mr. Edwards said.
“From our point of view, AW Edwards and Bouygues Construction are extremely complementary, through a shared dedication to technical excellence and innovation, and a pride in company history and values.
“With the strength and capability of Bouygues Construction alongside us, I am confident AW Edwards will continue to go from strength to strength in the Australian market.”
Nicolas Borit, Chief Executive Officer of Bouygues Bâtiment International, said the acquisition represents an opportunity to expand the business in this important strategic market.
“AW Edwards is a successful company with many achievements to its name. We have high regard for the Edwards family. Over several generations, they have successfully created an enduring company which is acknowledged for the quality of its projects and the service it provides to its customers,” he said.
“We are delighted to welcome AW Edwards’s teams into our organisation. We all share the same values and the same ambitions for the future.”
The statement said completion of the transaction is expected in the summer of 2018.