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Indiana construction biz acquired by Swedish firm

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One of Indiana’s largest private companies has been acquired by a Swedish corporation.

Stockholm-based Skanska AB, the Nordic region’s biggest builder, purchased Industrial Contractors Inc. for $135 million, boosting its U.S. presence with its first acquisition in the United States in a decade. The acquisition was announced Thursday morning.

Industrial Contractors, based in Evansville, employs 2,400 people and operates in the commercial, industrial and energy markets in the Midwest. It has worked on dozens of big industrial projects in Indiana, primarily in southern Indiana.

The company ranked 33rd on IBJ’s latest list of the largest private companies in Indiana, with $338.6 million in 2010 revenue.

Industrial Contractors has been “consistently profitable,” Skanska said.

“This follows our strategy to increase our portfolio of services and expand the geographical presence of our civil operations,” Skanska CEO Johan Karlstrom said in prepared statement.

Skanska is seeking to bolster its U.S. presence by buying a construction firm in the Midwest or Texas, Mike McNally, head of Skanska USA, said Dec. 15 in an interview.

While the U.S. is Skanska’s largest market, accounting for about 27 percent of revenue, its last acquisition there was a Californian road builder some 10 years ago.
The transaction was signed and closed Wednesday.

Skanska does little infrastructure construction outside New York, Virginia and southern California, and had been seeking to broaden its nationwide workload beyond just managing building projects such as hospitals.

Industrial Contractors was founded by Charles Braun in 1964. Alan Braun, son of the founder and current chairman and CEO, will stay on as an adviser, Skanska said.

The company will be included as an operating unit within Skanska USA Civil under the name, Industrial Contractors Skanska.

Headquartered in New York, Skanska USA has about 7,400 employees and annual revenue of nearly $5 billion.
 

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  • What happened in Indy?
    Interesting that Skanska shut down the Indianapolis office not too long ago.

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  1. John, unfortunately CTRWD wants to put the tank(s) right next to a nature preserve and at the southern entrance to Carmel off of Keystone. Not exactly the kind of message you want to send to residents and visitors (come see our tanks as you enter our city and we build stuff in nature preserves...

  2. 85 feet for an ambitious project? I could shoot ej*culate farther than that.

  3. I tried, can't take it anymore. Untill Katz is replaced I can't listen anymore.

  4. Perhaps, but they've had a very active program to reduce rainwater/sump pump inflows for a number of years. But you are correct that controlling these peak flows will require spending more money - surge tanks, lines or removing storm water inflow at the source.

  5. All sewage goes to the Carmel treatment plant on the White River at 96th St. Rainfall should not affect sewage flows, but somehow it does - and the increased rate is more than the plant can handle a few times each year. One big source is typically homeowners who have their sump pumps connect into the sanitary sewer line rather than to the storm sewer line or yard. So we (Carmel and Clay Twp) need someway to hold the excess flow for a few days until the plant can process this material. Carmel wants the surge tank located at the treatment plant but than means an expensive underground line has to be installed through residential areas while CTRWD wants the surge tank located further 'upstream' from the treatment plant which costs less. Either solution works from an environmental control perspective. The less expensive solution means some people would likely have an unsightly tank near them. Carmel wants the more expensive solution - surprise!

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