Skanska USA has announced the acquisition of Industrial Contractors, Inc., a US-based contractor in the commercial, industrial and power markets, for $135 million on a debt free basis.
Skanska has also acquired ICI’s affiliate companies that include Professional Consultants, Inc., Tri-State Refractories, Corporation, and Industrial Equipment, Inc. With the acquisition of ICI, Skanska will bring its heavy civil work and experience to the Midwest, and will enable the company to move into the industrial sector and bolster its position in the energy sector.
ICI and their affiliate companies bring to Skanska capabilities in both engineering and metal and pipe fabrication. The transaction will also allow ICI and Skanska to join forces in the construction management space, collaborating on projects in higher education, healthcare and pharmaceutical, as well as in common geographic markets where both companies serve clients, such as Indiana, Illinois, Ohio, West Virginia and Kentucky.
ICI focuses in the commercial, industrial and power markets of the Midwest. The company employs 2,400 people. The company operates three separate business streams that include Power & Energy, Commercial & Light Industrial and Heavy Industrial.