Graña y Montero Announces Acquisition of 44% of ADEXUS
By Business Wire News
By Business Wire News
Graña y Montero S.A.A. (NYSE: GRAM) (BVL: GRAMONC1) (“the Company” or “Graña y Montero”) a leading Group in engineering and infrastructure services in Latin America, celebrated today an investment agreement with ADEXUS S.A., a leading company in services and solutions of information technology for Chile, Peru, and Ecuador, whereby it acquires 44% of the share capital of this company through a contribution of capital of approximately US$ 15 million.
ADEXUS’ capitalization together with GMD’s portfolio of services, will strengthen the strategic position of both companies in the region, and will provide a comprehensive range of regional services.
Carlos Busso, Executive President of ADEXUS, said that the approach between the two companies will consolidate a comprehensive range of services at regional level and will expand the technical capacity to develop integral projects, consistent with the current market demands. “This first step will allow us to confront more specialized services and facilitate relationships with our regional customers through a single point of contact, through the integration of our processes, the complementarity of our portfolio of services and technical capabilities of the 3,800 employees working in both companies.”
Meanwhile, Mario Alvarado Pflucker, Chief Executive Officer of Graña y Montero Group, highlighted that the vision of regional business of both companies was a key factor in the strategic decision of association. “Both Graña y Montero as ADEXUS share in their vision, the development of their businesses from a regional perspective and that makes us look towards the same objective”. Jaime Dasso, Chief Executive Officer of the Technical Services Area of Graña y Montero Group, pointed out that the experience gained in operational excellence as well as the portfolio of services in his area, along with the technical capabilities and innovation from ADEXUS would be the key factors of their value proposition. “The experience gained in operational excellence and our portfolio of services, together with ADEXUS’ capabilities and geographic coverage, allows us to differentiate ourselves from the current offer and provide more value to the market”.
ADEXUS was founded in Chile over 25 years ago and has dedicated its career to the development and implementation of integrated solutions and specialized services in the area of Information Technology and Communications, acquiring over the years the signature of innovation. It has projected revenues of over US$ 200 million and an important regional presence distributed between Chile, Peru, Ecuador and Colombia.
It has positioned itself as a leading company in the Chilean and Latin American market, not only for its career but also because it represents more than 40 international brands of great prestige, which added to its experience and professionalism, it has allowed to implement successful solutions in all sectors of the region.
The international development of Graña y Montero Group
Founded in 1933, Graña y Montero Group is a publicly traded company listed on the Lima Stock Exchange and the New York Stock Exchange, being the only Peruvian company in its sector listed in both markets.
The strategy of diversification and growth achieved, led the Group to cross borders, being CAM, specialized in electric services and telecommunications, the first company that gave the Group a permanent presence in Chile and Colombia. Then, Vial y Vives and DSD in Chile joined the Group; and recently in Colombia, the company Morelco, all from the construction sector. By the end of 2014, the Group had international revenues for US$ 467 million, which is equivalent to 20% of the Group’s total revenues.
Moreover, outside these countries where the Group has permanent operations, major projects are being executed in Panama, Bolivia and British Guyana.
These important advances in the strategy are consistent with the decision to make a capital increase and list on the New York Stock Exchange in 2013, aiming to become a regional leader in the engineering and infrastructure areas, especially in Peru, Chile and Colombia.