What is the story about?
What's Happening?
Zachry Construction, a San Antonio-based infrastructure builder, has announced the acquisition of Crescent Constructors, a Plano, Texas-based firm specializing in municipal and industrial water projects. This strategic move aims to enhance Zachry's capabilities in the water infrastructure sector, which is increasingly in demand. The acquisition will see 100 employees continue to operate under the Crescent Constructors name. The financial terms of the deal have not been disclosed. This acquisition aligns with Zachry's focus on delivering large-scale, complex infrastructure projects across industrial and civil sectors, with water projects being a significant component of their growth strategy.
Why It's Important?
The acquisition is significant as it positions Zachry Construction to better address the growing needs in the water infrastructure sector, which has been highlighted by the American Society of Civil Engineers as facing new threats, including 'forever chemicals' like PFAS. The move reflects a broader industry trend where large infrastructure builders are increasingly focusing on water projects due to their critical importance and the necessity for repairs and upgrades. This acquisition could potentially lead to improved infrastructure services and long-term value for clients, addressing critical societal needs.
What's Next?
With the acquisition, Crescent Constructors, backed by Zachry's national platform, is poised to expand its capabilities and continue delivering essential infrastructure. The focus will likely be on leveraging Zachry's resources to enhance project delivery and address the pressing needs in water infrastructure. The industry may see further consolidation as companies seek to strengthen their positions in key sectors amid a challenging economic environment.
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