Skanska USA Acquires ICI

Skanska USA announced Dec. 29 that its civil business unit, a leading contractor in the U.S. market for civil engineering construction and infrastructure projects, has acquired Industrial Contractors Inc. (ICI), a leading contractor in the commercial, industrial and power markets, based in Evansville, Ind. In addition, Skanska has acquired ICI’s affiliate companies: Professional Consultants Inc., Tri-State Refractories Corp., and Industrial Equipment Inc.

This acquisition offers a platform for Skanska to bring its heavy civil work and experience to the Midwest, and will enable the company to move into the industrial sector and bolster its position in the energy sector. By combining the resources of both companies, they will become a significant national competitor in the power and industrial construction market. ICI and its affiliate companies bring to Skanska capabilities in both engineering and metal and pipe fabrication.

The transaction will also allow ICI and Skanska to join forces in the construction management space, collaborating on projects in higher education, healthcare and pharmaceutical, as well as in common geographic markets where both companies serve clients, such as Indiana, Illinois, Ohio, West Virginia and Kentucky.

“Our strategy has always been to increase our portfolio of services and expand our geographic footprint in the Midwest. The region is the manufacturing and industrial hub of the U.S., and home to some of the largest electrical power generating facilities in the country,” said Richard Cavallaro, president of Skanska USA Civil. “With Skanska’s regional, national and global resources, ICI can take its business to another level by offering its clients the collective knowledge of a global company and bringing its specialty services to Skanska clients across the country. We are excited about what our two companies can do together and about becoming part of the Evansville community.”

ICI, ranked one of the nation’s Top 400 construction companies, will be included as an operating unit within Skanska USA Civil under the name Industrial Contractors Skanska. The company was founded in Evansville in 1964 by Charles Braun, whose son, Alan Braun, is chairman and chief executive officer. ICI’s revenues for 2011 were nearly $500 million. The company operates three separate business streams: Power & Energy, Commercial & Light Industrial and Heavy Industrial.

The current ICI management team will remain in place and ICI president Denny Quinn will continue to run Industrial Contractors Skanska’s day-to-day operations. Alan Braun will stay on as an active advisor to Industrial Contractors Skanska’s Midwest operations as well as Skanska’s national civil operation.
Skanska is the eighth largest contractor in the United States and the fourth largest heavy civil contractor. On the civil side, Skanska has a strong track record in transit, heavy civil, water/waste water and marine construction.

Skanska’s high-profile projects include the No. 7 Line subway extension and the World Trade Center Transportation Hub in New York City.