 | |
 Headquarters in Madrid, Spain | |
| Company type | Public (Sociedad Anónima) |
|---|---|
| BMAD: ACS | |
| ISIN | ES0167050915 |
| Industry | Civil engineering |
| Founded | 1997; 28 years ago (1997) Madrid, Spain |
| Headquarters | Madrid ,Spain |
Key people | Florentino Pérez (Chairman) |
| Services | Public works,residential andnon-residential construction, transportinfrastructureconcessions,facility management,environmental services,logistics, industrial services |
| Revenue |  €27.8 billion (2021)[1] |
 €1.02 billion (2021)[1] | |
| €0.72 billion (2021)[1] | |
| Total assets | €35.6 billion (2021)[1] |
| Total equity | €7.02 billion (2021)[1] |
| Owner | Florentino Pérez (12.5%)[2] |
Number of employees | 122,502 (2021)[1] |
| Website | www |
ACS, Actividades de Construcción y Servicios, S.A. (Spanish pronunciation:[aθeˈese]) is a Spanish company dedicated tocivil engineering, construction, all types of services andtelecommunications. It is one of the leading construction companies in the world, with projects in many countries around the world. The company was founded in 1997 through the merger ofOCP Construcciones, S.A. andGinés Navarro Construcciones, S.A. The group has a presence in the United States, Germany, India, Brazil, Chile, Morocco and Australia. The headquarters are inMadrid and the chairperson isFlorentino Pérez. Listed on theBolsa de Madrid, the company's shares form part of theIBEX 35 stock market index.
The company was formed when a team of engineers acquiredConstrucciones Padrós S.A., a construction business which had been in financial difficulty, in 1983. The company acquired a majority holding inCobra, a support services business, and merged withOCISA S.A. to createOCP Construcciones, S.A. In 1993, it went on to merge withGinés Navarro Construcciones, S.A. to createGrupo ACS in 1997.[3] It subsequently boughtOnyx SCL, an environmental contractor in 1999 and stakes inXfera andBroadnet, telecommunications businesses in 2000 before going on to acquireDragados S.A., a large contractor established during theSecond World War to dredge the Port ofTarifa and which had subsequently gained extensive experience in hydro-electric and civil engineering work, in 2003.[4]
During 2005, ACS entered the US market via the establishment ofDragados USA, a wholly-owned subsidiary of Dragados S.A.[5] One of the first undertakings of the newly formed branch was a successful bid for theNew York City'sMetropolitan Transportation Authority (MTA)East Side Access Manhattan Tunnels project, being awarded an initial contract valued at $428 million.[6][7] In April 2008, the MTA awarded another contract, valued at $506 million, to the company.[8] Separate undertakings by the company included theHarbor Bridge Project,[9] and theMaryland's Purple Line.[10][11]
During 2006, the company acquired 22.0% of the Spanish utility companyUnión Fenosa; its stake in the business was subsequently increased to 45%); two years later, ACS Group opted to divest its stake toGas Natural.[12][13]
In September 2011, ACS Group issued an offer to purchase a controlling stake in German rivalHochtief;[14] the latter mounted an unsuccessful challenge to this approach.[15][16] During April 2011, the firm raised its stake in Hochtief to 50.16%, effectively acquiring the company.[17]
During 2017, the company participated in a bidding war to acquire the toll road management businessAbertis.[18][19] In October 2018, ACS Group joined with the Italian holding firmAtlantia to undertake a 16.5 billion euro ($19 billion) acquisition of Abertis as part of its ambition to build the world's largest toll road group;[20] the transaction was approved by theEuropean Commission.[21] Two years later, under the company's strategy of continuous rotation of mature assets to generate resources for new projects, ACS Group sold a 74% stake in a batch of six tranches of ‘shadow toll’ highways in Spain toHermes for €950 million.[22]
In October 2020, ACS Group announced that it had received a €5.2 billion ($6.08 billion) bid from the French infrastructure groupVinci SA for its ACS Industrial division;[23] this transaction was completed during the following year.[24] Additional arrangements between the two companies led to the creation of a joint venture focused on the renewable energy sector.[25]
During 2021, ACS Group conducted an internal review to simplify its structure and allegedly consideredspinning out its construction business; around this time, the company was focused on increasing its toll road division within the European market.[26] In April of that year, it made an approach to purchase Atlantia's 88% stake in motorway divisionAutostrade per l'Italia, which valued the business at 9 billion-10 billion euros ($10.7 billion-$11.9 billion).[27] In September 2022, Atlantia sold its 14.46% stake in Hochtief to ACS Group in exchange for 577.8 million euros ($576.9 million).[28]
In July 2022, the company was fined €57.1 million, along with five other contractors, by theComisión Nacional de los Mercados y la Competencia (CNMC) for bidding collusion in public tenders for building and civil infrastructure works.[29]
On 30 July 2024, ACS Group and Hochtief announced that Dragados North America would be integrated with Flatiron. The combined company, Flatiron Dragados, would be held 61.8% by ACS and 38.2% by Hochtief.[30][31] That same year, ACS Group reported that it had achieved better than expected results, which was largely attributed to its construction portfolio in the United States and Australia, particularly itstoll road interests.[32]
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Major projects involving the company have included theAlqueva Dam completed in 2002,[33] thePalau de les Arts Reina Sofia completed in 2005,[34] theTorre Agbar completed in 2005,[35] theTorre de Cristal completed in 2008,[36] theTorre Caja Madrid completed in 2008,[37] theLGV Perpignan–Figueres High Speed railway completed in 2009,[38] thePortugués Dam inPonce, Puerto Rico completed in 2014[39] and theCrescent Dunes Solar Energy Project completed in 2016.[40]
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