Industrial services provider Bilfinger has reached an agreement to acquire parts of the Stork group, a subsidiary of Fluor Corporation (USA). The transaction includes mainly the operating units in the Netherlands and Belgium as well as a few entities in Germany and in the US, with a total of more than 2,700 permanent employees and revenue of about 500 million euros. The corresponding contracts were signed last night. Closing is expected to take place in the first half of 2024.
The bolt-on acquisition is in line with Bilfinger’s communicated strategy of strengthening its core business in a market where the Bilfinger Group is already well positioned. Particularly in the high-performing region of the Netherlands and Belgium, the transaction will strengthen Bilfinger’s market presence and its regional service offering for its customers.
In addition, the acquisition will increase the number of skilled employees of Bilfinger, particularly in Belgium and the Netherlands, where more than 4,600 people will be employed once the transaction is completed. Stork’s strong technical capabilities and geographical coverage complement Bilfinger’s and will create an attractive offering to help customers in the process industry improve their efficiency and sustainability. Moreover, Bilfinger will gain broader customer access.
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