Colas closes acquisition of Destia, largest provider of road & railway infrastructure in Finland
- Ongoing focus on targeted external growth outside of France
- Opportunity to strengthen Colas’ footprint in Northern Europe
As stipulated in an agreement signed on August 25, 2021, and following approval by the competition authorities, Colas SA acquired 100% of the shares of Destia Oy from Ahlström Capital, a Finnish family investment company. The acquisition was closed on December 1 in Helsinki, Finland, on the basis of an enterprise value of €235 million. Destia will be consolidated in the Colas Group’s financial statements at December 31, 2021.
Destia is the largest provider of road, railway and energy infrastructure in Finland. Backed by over 1,600 employees working across its infrastructure maintenance and new construction businesses, the Destia group posted revenue totaling €564 million in 2020.
The acquisition of Destia is clearly in line with Colas' ongoing strategy to grow in targeted geographies outside of France (Northern Europe, United States, Germany). The Northern European market offers solid growth prospects in the construction and maintenance of transport infrastructure, particularly in the railway and renewable energy segments.