ACS Group

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ACS, Actividades de Construcción y Servicios, S.A.
Company type
Public
BMAD: ACS
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HeadquartersAvenida de Pío XII 102, Madrid, Spain
Key people
Florentino Pérez
(chairman)
ServicesPublic works, residential and non-residential construction, transport infrastructure concessions, facility management, environmental services, logistics, industrial services
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Total equityDecrease Template:€ (2024)[1]
OwnerFlorentino Pérez (12.5%)[2]
CriteriaCaixa (9.4%)[3]
Number of employees
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Websitegrupoacs.com

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ACS, Actividades de Construcción y Servicios, S.A. (Script error: No such module "IPA".) is a Spanish company dedicated to civil engineering, construction, all types of services and telecommunications. 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 of OCP Construcciones, S.A. and Ginés Navarro Construcciones, S.A. The group has a presence in the United States, Germany, India, Brazil, Chile, Morocco and Australia. The headquarters are in Madrid and the chairperson is Florentino Pérez. Listed on the Bolsa de Madrid, the company's shares form part of the IBEX 35 stock market index.

History

The company was formed when a team of engineers acquired Construcciones Padrós S.A., a construction business which had been in financial difficulty, in 1983. The company acquired a majority holding in Cobra, a support services business, and merged with OCISA S.A. to create OCP Construcciones, S.A. In 1993, it went on to merge with Ginés Navarro Construcciones, S.A. to create Grupo ACS in 1997.[4] It subsequently bought Onyx SCL, an environmental contractor in 1999 and stakes in Xfera and Broadnet, telecommunications businesses in 2000 before going on to acquire Dragados S.A., a large contractor established during the Second World War to dredge the Port of Tarifa and which had subsequently gained extensive experience in hydro-electric and civil engineering work, in 2003.[5]

During 2005, ACS entered the US market via the establishment of Dragados USA, a wholly owned subsidiary of Dragados S.A.[6] One of the first undertakings of the newly formed branch was a successful bid for the New York City's Metropolitan Transportation Authority (MTA) East Side Access Manhattan Tunnels project, being awarded an initial contract valued at $428 million.[7][8] In April 2008, the MTA awarded another contract, valued at $506 million, to the company.[8] Separate undertakings by the company included the Harbor Bridge Project,[9] and the Maryland's Purple Line.[10][11]

During 2006, the company acquired 22.0% of the Spanish utility company Unión Fenosa; its stake in the business was subsequently increased to 45%); two years later, ACS Group opted to divest its stake to Gas Natural.[12][13]

In September 2010, ACS Group issued an offer to purchase a controlling stake in German rival Hochtief;[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 business Abertis.[18][19] In October 2018, ACS Group joined with the Italian holding firm Atlantia 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 the European 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 to Hermes 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 group Vinci 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 considered spinning 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 division Autostrade 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 the Comisión 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 its toll road interests.[32]

Divisions

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Construction

  • Dragados North America
    • Dragados USA
    • Dragados Canada
  • VYCSA
  • Roura & Cevasa
  • Electren
  • Constru-Rail
  • Edileuropa Di Stivaletti Michele
  • TECSA
  • Drace
  • Dravosa
  • GEOCISA
  • COGESA
  • Dycvensa
  • Dycasa
  • Pol-Aqua
  • Hochtief (79.1%)

Infrastructure

  • Iridium Concesiones de Infraestructuras

Industrial companies

  • Grupo Cobra
  • Grupo Etra
  • Etra air
  • SEMI S.A.
  • IMESAPI
  • EYRA
  • CYMI
  • Dragados OFFSHORE
  • GRUPO MAESSA
  • Maetel
  • Grupo MAESSA Arabia Saudi Ltd
  • Intecsa Industrial
  • Initec Energía
  • SICE

Services

  • Clece
  • Dragados SPL
  • Continental-Rail

Minority Investments

File:Sede de Dragados (Madrid) 04.jpg
Head offices of Dragados (Madrid), a construction company acquired by ACS in 2003

Significant projects

Major projects involving the company have included:

References

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  1. ^ a b c d e f Page Module:Citation/CS1/styles.css has no content."Integrated Report of ACS Group.2024" (PDF). Retrieved 12 December 2025.
  2. ^ Page Module:Citation/CS1/styles.css has no content."ACS Actividades de Constrccn y Srvcos SA company : Shareholders, managers and business summary | Mercado Continuo Espanol: ACS". 4-Traders. Retrieved 1 November 2016.
  3. ^ Page Module:Citation/CS1/styles.css has no content."Who Owns ACS Actividades de Construccion y Servicios?". matrixbcg.com. Retrieved 14 May 2026.
  4. ^ Page Module:Citation/CS1/styles.css has no content.Thomas Jr, Landon (9 May 2012). "In Spain, a Debt Crisis Built on Corporate Borrowing". The New York Times. Retrieved 31 March 2013.
  5. ^ Page Module:Citation/CS1/styles.css has no content."Spanish merger approved". The Times. UK. 11 April 2011. Archived from the original on 12 June 2011. Retrieved 2 December 2011.
  6. ^ Page Module:Citation/CS1/styles.css has no content."About Dragados USA". dragados-usa.com. Retrieved 2 August 2024.
  7. ^ Page Module:Citation/CS1/styles.css has no content."Dragados has been awarded the first contract of the New York Subway extension plan". 10 July 2006.
  8. ^ a b Page Module:Citation/CS1/styles.css has no content."East Side Access Quarterly Report Q3 2009" (PDF). Metropolitan Transportation Authority. September 2009. p. 16. Archived (PDF) from the original on 27 June 2016. Retrieved 5 February 2018.
  9. ^ Page Module:Citation/CS1/styles.css has no content.Tyson, Daniel (10 April 2023). "Design Issues Resolved in Delayed $1B Corpus Christi Harbor Bridge". Engineering News-Record.
  10. ^ Page Module:Citation/CS1/styles.css has no content.Shaver, Katherine (5 November 2021). "New Purple Line contractors selected to resume full construction this spring". The Washington Post. Archived from the original on 5 November 2021. Retrieved 8 November 2021.
  11. ^ Page Module:Citation/CS1/styles.css has no content."New construction contract for Maryland's Purple Line signed". The Washington Post. 14 April 2022. Archived from the original on 5 July 2022. Retrieved 21 April 2022.
  12. ^ Page Module:Citation/CS1/styles.css has no content."ACS vetoes tie-up". The Times. UK. 11 April 2011. Archived from the original on 12 June 2011. Retrieved 2 December 2011.
  13. ^ Page Module:Citation/CS1/styles.css has no content."ACS hopes to sell Union Fenosa by mid-Sept". Reuters. 21 July 2008.
  14. ^ Page Module:Citation/CS1/styles.css has no content."ACS bids for control of Hochtief". building.co.uk. 24 September 2010.
  15. ^ Page Module:Citation/CS1/styles.css has no content."Spain's ACS Secures Crucial Stake in Rival Hochtief". spiegel.de. 4 January 2011.
  16. ^ Page Module:Citation/CS1/styles.css has no content.Guthrie, Sandy (27 January 2011). "ACS wins another round". constructionbriefing.com.
  17. ^ Page Module:Citation/CS1/styles.css has no content."Hochtief website". The Times. UK. 11 April 2011. Archived from the original on 12 June 2011. Retrieved 2 December 2011.
  18. ^ Page Module:Citation/CS1/styles.css has no content."ACS group studying counter-offer for Abertis". bnamericas.com. 25 July 2017.
  19. ^ Page Module:Citation/CS1/styles.css has no content."ACS and Atlantia agree to share $22.4bn Abertis, ending bitter bidding war". globalconstructionreview.com. 16 March 2018.
  20. ^ Page Module:Citation/CS1/styles.css has no content."Atlantia, ACS complete 16.5 billion euro acquisition of Spain's Abertis". Reuters. 29 October 2018.
  21. ^ Page Module:Citation/CS1/styles.css has no content."Mergers: Commission approves the proposed acquisition of Abertis by ACS and Atlantia". European Commission. 6 July 2018.
  22. ^ Page Module:Citation/CS1/styles.css has no content."CS Sells 74% Of Its Six 'Shadow Toll' Motorways In Spain For €950 M". thecorner.eu. 29 April 2020.
  23. ^ Page Module:Citation/CS1/styles.css has no content.Sánchez Molina, Pilar (2 October 2020). "ACS Group to sell renewables unit to France's Vinci". pv-magazine.com.
  24. ^ Page Module:Citation/CS1/styles.css has no content."Vinci completes the acquisition of ACS's energy business (Cobra IS)". Vinci SA. 31 December 2021.
  25. ^ Page Module:Citation/CS1/styles.css has no content."The Spanish Acs and the French Vinci consolidate the alliance in the development of renewables". agenzianova.com. 18 September 2023.
  26. ^ Page Module:Citation/CS1/styles.css has no content.Orihuela, Rodrigo (13 April 2021). "ACS Weighs Construction Spinoff Amid Toll Roads Focus". Bloomberg.
  27. ^ Page Module:Citation/CS1/styles.css has no content."Spain's ACS confirms bid for Atlantia's stake in motorway unit". Reuters. 9 April 2021.
  28. ^ Page Module:Citation/CS1/styles.css has no content."Atlantia sells Hochtief stake to ACS for 578 mln euros". Reuters. 15 September 2022.
  29. ^ Page Module:Citation/CS1/styles.css has no content."Spain's six top builders fined, restricted over bidding collusion". Reuters. 7 July 2022. Retrieved 15 March 2024.
  30. ^ Page Module:Citation/CS1/styles.css has no content.Evans, Jason (30 July 2024). "Integration of Flatiron and Dragados North America Civil Construction businesses to create value for HOCHTIEF and ACS". Flatiron. Retrieved 30 July 2024.
  31. ^ Page Module:Citation/CS1/styles.css has no content."Germany's Hochtief, Spain's ACS merge US subsidiaries". Reuters. 30 July 2024.
  32. ^ Page Module:Citation/CS1/styles.css has no content.Pons, Corina (29 February 2024). "ACS posts 17% rise in 2023 profit stoked by construction overseas". Reuters.
  33. ^ Page Module:Citation/CS1/styles.css has no content."Alqueva Dam on Structurae database" (in Deutsch). En.structurae.de. Retrieved 2 December 2011.
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  40. ^ Page Module:Citation/CS1/styles.css has no content."Crescent Dunes Solar Energy Project". Power Technology. Retrieved 5 February 2020.
  41. ^ Page Module:Citation/CS1/styles.css has no content."Sisk wins €600m rail tunnel deal". Irish Times. 14 December 2010. Retrieved 3 July 2020.

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