Dutch contractor Royal Bam Group has announced the sale of its Belgian operating company Bam Contractors to Belgian construction company Stadsbader Group.
Bam Contractors has 400 employees, an annual revenue exceeding €190m and a leading position in Belgium’s industrial construction and infrastructure market.
Bam states that the sale will improve the group’s balance sheet and reduce liquidity and bonds.
The move follows a string of similar divestments by Bam in recent months, including the sale of Belgian subsidiary Bam Galère and its German division that included subsidiaries Bam Immobilien-Dienstleistungen and Bam Sports.
Ruud Joosten, Royal Bam Group’s chief executive, said: “We are pleased that we have found a trusted partner in Stadsbader Group for the future development of Bam Contractors and its employees.
“We are restructuring BAM’s portfolio of businesses to focus on markets and projects where we can leverage our proven competitive strengths and serve the growing demand for sustainable solutions in the construction industry.”
BAM Contractors’ sale is subject to approval of the competition authorities but is expected to be completed in the second quarter of 2022.