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Downer expands in NZ via Hawkins buy

NZ Newswire logoNZ Newswire 7/03/2017

Downer EDI is buying the construction, infrastructure and project management businesses of New Zealand builder Hawkins for an undisclosed sum.

The Australian company says the acquisition is an excellent strategic fit for its Kiwi business, complementing existing capabilities and providing a platform for growth.

The acquisition, which is likely to be completed by March 31, will be funded through existing debt facilities and be earnings accretive in its first year, Downer chief executive Grant Fenn says.

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