French construction group Nouvelles Générations d'Entrepreneurs (NGE) is to carry out its largest external growth operation abroad by acquiring Uruguayan construction market leader Saceem for an undisclosed amount, according to a press release published on Wednesday, October 1.
NGE will acquire Saceem, the leading port and bridge builder in the South American country, specializing in infrastructure, roads, energy, industry, hydraulic structures, and telecommunications. It generated revenues of $350 million in 2024, or just under €300 million at Wednesday's exchange rate.
The transaction has been approved by the relevant local authorities, but its completion "remains subject to customary conditions precedent," the company said in its press release.
NGE boasts 26.000 employees in 20 countries and an annual turnover of €4,6 billion. The group is 72% owned by its founders, management, and employees, and 28% by the French investment fund Montefiore.
The acquisition of Saceem would bring the NGE group's international turnover to "just over 700 million euros in 2025," and the target company's 1.800 employees would bring the total number of international employees to 5.800.
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