Construcciones Yamaro: Georgiou Group in advanced talks for acquisition

As Georgiou Group progresses negotiations for its proposed acquisition by STRABAG Group, it remains committed to delivering outstanding outcomes for clients and partners, having successfully completed key projects like the Fitzroy River Bridge in Western Australia. (Image: Georgiou Group)

Georgiou Group has confirmed it is in advanced negotiations for its proposed acquisition by STRABAG Group, a European-based construction company. The agreement is contingent on approval from Australia’s Foreign Investment Review Board.

Gary Georgiou, chief executive officer of Georgiou Group, highlighted the strategic advantages of the potential partnership. “By joining the STRABAG Group, Georgiou will benefit from being part of a large, sophisticated multi-national organisation through increased financial backing and access to proven technical capability, experience and assets that extend beyond our current resources,” he said.

“This expansion of capability offers immense value and opportunity not only for Georgiou as a commercial entity, but also for our people and the Australian construction industry as a whole.”

The decision to enter negotiations with STRABAG Group follows careful consideration of Georgiou Group’s future growth and the benefits this acquisition could bring to its employees, clients and partners, while maintaining the company’s core values and vision.

John Georgiou, executive chairman of Georgiou Group, reflected on the family’s legacy. “The founding shareholders, my father Spiro (Peter) who has recently passed, and my mother Agnoula (Anna) Georgiou, have always been passionate about Georgiou Group. The company’s success, including the success of employees, is incredibly important to all of us,” he said.

“The potential partnership with STRABAG would accelerate Georgiou’s growth and capability, whilst also bolstering the vision and values that [the company] is built on. As a family, we agreed on the direction; Spiro was aware and supportive of the acquisition by STRABAG.”

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STRABAG Group chief executive officer Klemens Haselsteiner emphasised the strong cultural fit between the two companies, noting, “We share an appreciation for teamwork, effective risk management, the right balance between operating business and central functions and high standards of services.”

“What we have here are two family businesses that are growing together, and as we learn from each other, I am convinced that we will become even stronger than before.”

STRABAG Group, one of Europe’s largest construction firms, employs 86,000 people globally and generates an annual output volume of around €19 billion. The company provides services across the entire construction value chain, from design and planning to construction, property services and demolition.

As negotiations progress, Georgiou Group remains committed to maintaining business continuity and stability throughout the process.

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