BAM acquires Belgian M&E group FED Holding
Bunnik, Netherlands, 7 October 2008 - Royal BAM Group has acquired all shares of the Belgian mechanical & electrical company FED Holding sa, which is based in Saint-Nicolas, Belgium. The shares were held by the management.
FED Holding comprises seven companies for mechanical & electrical contracting, services and security installations. These companies operate under their own name in and around Liège and also in the region of Brussels and Charleroi. The total turnover of FED Holding in 2007 amounted to approximately €35 million with a good result. Together the companies employ a workforce of 220.
The takeover of FED Holding is in line with BAM's strategy, which was set out at the end of 2006 when the Strategic Agenda 2007-2009 was announced. It represents a significant reinforcement of BAM's construction, property and civil engineering activities in Belgium. FED Holding will be part of BAM Wallonie, which also comprises the companies Galère, Balteau and FFK. FED Holding has been working with Galère intensively for many years.
Further information: A.C. Pronk, +31 (0)30 659 86 21.