Fredericks Michael & Co. acted as the exclusive financial advisor to Empresas ICA, S.A.B. de C.V., the largest construction and infrastructure company in Mexico, on its acquisition of the Facchina Construction Group in the United States. The acquisition will enable ICA to increase participation in the U.S. market as part of its international growth strategy.
Alonso Quintana, ICA’s Chief Executive Officer, said, “The Facchina Group is one of the premier medium-sized heavy construction and infrastructure companies in the U.S. Their business dovetails well with ICA’s, and they operate in markets with high growth potential. ICA’s strategy for increasing our international operations clearly includes the United States. Facchina’s management team is strong and will continue to lead the company.”
ICA launched an international diversification initiative in 2011, with the objective of increasing the international share of total construction revenues. ICA has already expanded its activities in key markets of Latin America, including Panama, Peru, Colombia, and Costa Rica. The acquisition of FCG now extends this initiative to the U.S. In the past, ICA participated in key U.S. infrastructure projects, but has not been active in recent years. As part of ICA, FCG is expected to be able to bid on and participate in larger projects than in the past and be able to incorporate technologies that will improve efficiency. It will also have access to additional surety and financing capabilities.
FM&Co.’s advisory services to ICA included valuation analysis, structuring, due diligence coordination, and extensive negotiations.
About Empresas ICA, S.A.B. de C.V.
Empresas ICA, S.A.B. de C.V. (BMV and NYSE: ICA) is Mexico's largest infrastructure company. ICA carries out large-scale civil and industrial construction projects and operates a portfolio of long-term assets, including airports, toll roads, water systems, and real estate. Founded in 1947, lCA is listed on the Mexican and New York Stock exchanges. For more information, visit www.ri.ica.com.mx
About Facchina Construction Group
The Facchina Construction Group (founded in 1987 and based in La Plata, Maryland) has a strong presence in the Washington, D.C. metropolitan area and southern Florida. Landmark projects in the Washington, D.C. metropolitan area include the 11th Street Bridge reconstruction project, the Maryland Inter- County Connector highway project, and the U.S. Capitol Visitor Center. In Florida, major projects include the New World Symphony Campus Expansion, the American Airlines Arena, and residential high-rise developments, including the Grove at Grand Bay.