The Kent-based £580m turnover business employs around 2,000 staff specialising in roadworks, civil engineering, asphalt and binders’ production as well as a range of specialist businesses covering water and drainage management, lighting, cabling and traffic management.
VINCI said the integration of FM Conway would strengthen its position in the dynamic south-east England market.
Completion of the deal is subject to necessary regulatory approvals and is expected early 2025.
In 2023, VINCI Construction’s UK division generated a total revenue of £2.2bn – with a total workforce of 6,700 employees – through its five business lines: Eurovia (road construction), Ringway (maintenance services), Taylor Woodrow (civil engineering), VINCI Building (building) and VINCI Facilities (facility management).
Founded in 1961 by Frank Conway, FM Conway is owned by the Conway family. His granddaughter Joanne Conway took over the role of chair and CEO of the FM Conway Group following her father Michael Conway’s death in March 2022.
Joanne Conway said: “We’re a proud family business that has grown considerably through sheer hard work and determination to become an industry leader and a significant part of the UK’s critical infrastructure delivery.
“The time is now right for the next chapter of our growth story. Beyond the obvious operational and commercial synergies, we share a set of values with VINCI and an approach to business that’s about putting people first, doing great work, and respecting the communities we operate in.”
Scott Wardrop, chief executive of the UK division of VINCI Construction, said: “This acquisition is a clear indication of our ambition to strengthen our business, through greater self-delivery and grow the circular economy in our UK market sectors.
“FM Conway is an excellent commercial and cultural fit for us, especially for Ringway, Eurovia and Taylor Woodrow. It has a powerful heritage and we are privileged to be in a position to build on the Conway family’s legacy. We’re looking forward to working alongside the FM Conway team to take the business to the next stage.”
