French construction and engineering company Egis SA plans to invest about $800 million in the acquisition of assets in the United States and Canada as part of a plan to increase sales in the region to $1.1 billion by 2028. This is reported in the Egis press release.
Egis is currently implementing other M&A projects following the acquisition of Canadian companies McIntosh Perry and SvN Architects + Planners, in addition to North America.
From the company's point of view, the North American infrastructure market will grow at the same rate as the Middle East market. Egis plans to acquire assets in the urban light rail sector to participate in the reconstruction of the New York subway and in projects to expand tram lines in other major cities in the United States and Canada.
In addition, Egis is interested in assets in the field of nuclear energy and electric grid engineering in the states of Texas, Georgia, Florida, as well as in North and South Carolina. At the same time, the company intends to invest about 250 million euros in the acquisition of assets in the UK, Australia and France.
The U.S. construction industry has benefited from the adoption of the Infrastructure Investment and Jobs Act, which provides for the allocation of $550 billion for the construction of roads and bridges, as well as measures to reduce carbon dioxide emissions in the clean energy, transportation and electric vehicles sectors. The Inflation Reduction Act, adopted to support energy projects through tax incentives, is also an incentive for investment.
Egis is a French company in the field of construction engineering, consulting and mobile services. The company is engaged in the design and operation of intelligent infrastructure and buildings. The headquarters is located in Gayancourt (France) with offices in 120 countries.
Tikehau Capital SCA owns 40% of Egis shares, and the state—owned company Caisse des Depots & Consignations owns 34%. The remaining shares belong to the management and employees of the company. Starting in 2020, the company doubled revenue to 1.9 billion euros ($2 billion) due to growth of 12% per year and 35 acquisitions and intends to increase revenues to 4 billion euros by 2028.
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