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Companies team up in asphalt joint venture

Companies team up in asphalt joint venture


Victorian asphalt producer Citywide Service Solutions has initiated a joint venture with Fulton Hogan Industries.

Firms: Baker & McKenzie (Citywide Service Solutions); Maddocks (Fulton Hogan Industries)

Deal: Citywide Service Solutions has sold a 50 per cent interest in its asphalt manufacturing business to Fulton Hogan Industries.

Value: Undisclosed

Area: M&A

Key players: Baker & McKenzie partner Arthur Apos led the team.

Deal significance: Citywide Service Solutions is an Australian provider of infrastructure, environmental and open space services. Its asphalt plant supplies asphalt products to Victorian infrastructure companies and councils. 

Fulton Hogan employs more than 5,500 employees and operates a number of sites across New Zealand, Australia and the South Pacific. Its operates in transport, water, energy, mining and land development infrastructure.

Mr Apos said: "This joint venture brings together two culturally aligned organisations whose combined extensive experience in asphalt production and infrastructure development will position the business for future growth and success."

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