COLAS (EPA:RE) - PR Colas - Acquisition of the Miller McAsphalt Group - Canada
Transparency directive : regulatory news
01/03/2018 07:30
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PRESS RELEASEBoulogne, March 1, 2018
- Pursuing the external growth strategy with Colas' largest acquisition in
North America
- Providing the opportunity to increase Colas' foothold in Ontario and expand
its Canadian bitumen distribution network
In accordance with the memorandum of understanding signed on August 30, 2017,
and after obtaining all required approvals, on February 28, 2018 in Toronto,
Colas Canada completed the closing of the acquisition of 100% of the shares of
Miller McAsphalt Group.
The Miller McAsphalt Group is a major player in road construction and bitumen
distribution in Canada, with a strong foothold in Ontario. With annual average
revenue of approximately CAN $ 1.3 billion(a) and an average operating profit
margin of 7% (a), it employs 3,300 people.
This transaction is part of Colas' long-term strategy to continue its
development in North America. The North American market has strong growth
prospects given the significant construction and maintenance needs for
transportation infrastructure.
The acquisition of Miller McAsphalt will allow Colas Canada to expand its
geographic coverage, strengthening its presence in Ontario and significantly
increasing its bitumen storage and distribution capacity across Canada.
The purchase price of the shares paid on closing amounts to CAN $ 913 million.
The acquisition is financed by debt and does not impact Colas' solid balance
sheet.
(a) Average of three last fiscal years
Colas (www.colas.com)
Colas, a subsidiary of the Bouygues Group, is a world leader aiming to promote
transport infrastructure solutions for sustainable mobility. With 55,000
employees in more than 50 countries on five continents, the Group performs some
80,000 road construction and maintenance projects each year via 800
construction business units and 2,000 material production units.
In 2017, consolidated revenue at Colas totaled 11.7 billion euros (48% outside
of France). Net profit attributable to the Group amounted to 328 million euros.
For further information:
Delphine Lombard (tel.: 33 1 47 61 76 17) - delphine.lombard@colas.com
Rémi Colin (tel.: 33 1 47 61 73 94) - remi.colin@colas.com
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