French engineering giant Bouygues Construction is deepening ties in Australia after agree to purchase AW Edwards through its subsidiary Bouygues Bâtiment International.
Bouygues has been operating in Australia for around 50 years and is currently working on some of the countries biggest projects, including Sydney’s NorthConnex motorway link, the Melbourne Metro and several solar farms in New South Wales and Queensland.
AW Edwards has been a family-run business since it was set up in 1921 and will retain its brand post-acquisition. The firm has around 250 employees and turns over around $208mn.
Nicolas Borit, Chief Executive Officer of Bouygues Bâtiment International, commented: “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.
“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 deal is set to complete in the summer of this year, although financial details are yet to be revealed. Bouygues Bâtiment International will be purchasing all AW Edwards shares.
Bruce Edwards, Managing Director and owner of AW Edwards, added: “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. This means bringing best practices from around the globe to our operations in Australia.”