ACS Group

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.{{cite news |url=https://www.nytimes.com/2012/05/10/business/global/in-spain-grupo-acss-high-debt-reflects-countrys-finances.html?pagewanted=all&_r=0 |title=In Spain, a Debt Crisis Built on Corporate Borrowing |work=The New York Times |date=9 May 2012 |access-date=31 March 2013}} 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.{{cite web |url=http://business.timesonline.co.uk/tol/business/article992818.ece |archive-url=https://web.archive.org/web/20110612032109/http://business.timesonline.co.uk/tol/business/article992818.ece |url-status=dead |archive-date=12 June 2011 |title=Spanish merger approved |work=The Times |location=UK |date=11 April 2011 |access-date=2 December 2011}}

During 2005, ACS entered the US market via the establishment of Dragados USA, a wholly-owned subsidiary of Dragados S.A.{{Cite web |title=About Dragados USA |url=https://www.dragados-usa.com/html/about.html |access-date=2 August 2024 |website=dragados-usa.com}} 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.{{Cite web |date=10 July 2006 |title=Dragados has been awarded the first contract of the New York Subway extension plan |url=https://www.grupoacs.com/press-room/news/press-releases/dragados-has-been-awarded-the-first-contract-of-the-new-york-subway-extension-plan/}}{{Cite web |date=September 2009 |title=East Side Access Quarterly Report Q3 2009 |url=http://web.mta.info/capital/esa_docs/ESA%20Quarterly%20Report%202009%20Q3.pdf |url-status=live |archive-url=https://web.archive.org/web/20160627000655/http://web.mta.info/capital/esa_docs/ESA%20Quarterly%20Report%202009%20Q3.pdf |archive-date=27 June 2016 |access-date=5 February 2018 |publisher=Metropolitan Transportation Authority |page=16}} In April 2008, the MTA awarded another contract, valued at $506 million, to the company.{{Cite web |date=September 2009 |title=East Side Access Quarterly Report Q3 2009 |url=http://web.mta.info/capital/esa_docs/ESA%20Quarterly%20Report%202009%20Q3.pdf |url-status=live |archive-url=https://web.archive.org/web/20160627000655/http://web.mta.info/capital/esa_docs/ESA%20Quarterly%20Report%202009%20Q3.pdf |archive-date=27 June 2016 |access-date=5 February 2018 |publisher=Metropolitan Transportation Authority |page=16}} Separate undertakings by the company included the Harbor Bridge Project,{{Cite web |last=Tyson |first=Daniel |date=10 April 2023 |title=Design Issues Resolved in Delayed $1B Corpus Christi Harbor Bridge |url=https://www.enr.com/articles/56242-design-issues-resolved-in-delayed-1b-corpus-christi-harbor-bridge |access-date= |website=Engineering News-Record |language=en}} and the Maryland's Purple Line.{{cite news |last=Shaver |first=Katherine |title=New Purple Line contractors selected to resume full construction this spring |url=https://www.washingtonpost.com/transportation/2021/11/05/purple-line-dragados-construction/ |date=5 November 2021 |newspaper=The Washington Post |access-date=8 November 2021 |archive-date=5 November 2021 |archive-url=https://web.archive.org/web/20211105212040/https://www.washingtonpost.com/transportation/2021/11/05/purple-line-dragados-construction/ |url-status=live }}{{Cite news |title=New construction contract for Maryland's Purple Line signed |newspaper=The Washington Post |url=https://www.washingtonpost.com/transportation/2022/04/14/purple-line-construction-contract-financial-close/ |date=14 April 2022 |access-date=21 April 2022 |archive-date=5 July 2022 |archive-url=https://web.archive.org/web/20220705220808/https://www.washingtonpost.com/transportation/2022/04/14/purple-line-construction-contract-financial-close/ |url-status=live }}

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.{{cite web |url=http://business.timesonline.co.uk/tol/business/article593083.ece |archive-url=https://web.archive.org/web/20110612032143/http://business.timesonline.co.uk/tol/business/article593083.ece |url-status=dead |archive-date=12 June 2011 |title=ACS vetoes tie-up |work=The Times |location=UK |date=11 April 2011 |access-date=2 December 2011}}{{cite web |url = https://www.reuters.com/article/business/acs-hopes-to-sell-union-fenosa-by-mid-sept-source-idUSMDT005385/ |title = ACS hopes to sell Union Fenosa by mid-Sept |publisher = Reuters |date = 21 July 2008}}

In September 2011, ACS Group issued an offer to purchase a controlling stake in German rival Hochtief;{{cite web |url = https://www.building.co.uk/news/acs-bids-for-control-of-hochtief/5006112.article |title = ACS bids for control of Hochtief |website = building.co.uk |date = 24 September 2010}} the latter mounted an unsuccessful challenge to this approach.{{cite web |url = https://www.spiegel.de/international/business/hostile-takeover-spain-s-acs-secures-crucial-stake-in-rival-hochtief-a-737648.html |title = Spain's ACS Secures Crucial Stake in Rival Hochtief |website = spiegel.de |date = 4 January 2011}}{{cite web |url = https://www.constructionbriefing.com/news/acs-wins-another-round/1061528.article |title = ACS wins another round |website = constructionbriefing.com |first = Sandy |last = Guthrie |date = 27 January 2011}} During April 2011, the firm raised its stake in Hochtief to 50.16%, effectively acquiring the company.{{cite web |url=http://business.timesonline.co.uk/tol/business/industry_sectors/construction_and_property/article2395409.ece |archive-url=https://web.archive.org/web/20110612032205/http://business.timesonline.co.uk/tol/business/industry_sectors/construction_and_property/article2395409.ece |url-status=dead |archive-date=12 June 2011 |title=Hochtief website |work=The Times |location=UK |date=11 April 2011 |access-date=2 December 2011}}

During 2017, the company participated in a bidding war to acquire the toll road management business Abertis.{{cite web |url = https://www.bnamericas.com/en/news/acs-group-studying-counter-offer-for-abertis |title = ACS group studying counter-offer for Abertis |website = bnamericas.com |date = 25 July 2017}}{{cite web |url = https://www.globalconstructionreview.com/acs-and-atlantia-agree-share-224bn-abertis-ending/ |title = ACS and Atlantia agree to share $22.4bn Abertis, ending bitter bidding war |website = globalconstructionreview.com |date = 16 March 2018}} 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;{{cite web |url = https://www.reuters.com/article/business/atlantia-acs-complete-165-billion-euro-acquisition-of-spains-abertis-idUSKCN1N30W8/ |title = Atlantia, ACS complete 16.5 billion euro acquisition of Spain's Abertis |publisher = Reuters |date = 29 October 2018}} the transaction was approved by the European Commission.{{cite web |url = https://ec.europa.eu/commission/presscorner/detail/en/IP_18_4392 |title = Mergers: Commission approves the proposed acquisition of Abertis by ACS and Atlantia |publisher = European Commission |date = 6 July 2018 }} 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.{{cite web |url = https://thecorner.eu/financial-markets/acs-sells-74-of-its-six-shadow-toll-motorways-in-spain-for-e950-m/85791/ |title = CS Sells 74% Of Its Six ‘Shadow Toll’ Motorways In Spain For €950 M |website = thecorner.eu |date = 29 April 2020}}

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;{{cite web |url = https://www.pv-magazine.com/2020/10/02/acs-group-to-sell-renewables-unit-to-frances-vinci/ |title = ACS Group to sell renewables unit to France’s Vinci |website = pv-magazine.com |date = 2 October 2020 |first = Pilar |last = Sánchez Molina}} this transaction was completed during the following year.{{cite web |url = https://www.vinci.com/vinci.nsf/en/press-releases/pages/20211231-0830.htm |title = Vinci completes the acquisition of ACS’s energy business (Cobra IS) |publisher = Vinci SA |date = 31 December 2021}} Additional arrangements between the two companies led to the creation of a joint venture focused on the renewable energy sector.{{cite web |url = https://www.agenzianova.com/en/news/the-Spanish-ACS-and-the-French-Vinci-consolidate-the-alliance-in-the-development-of-renewables/ |title = The Spanish Acs and the French Vinci consolidate the alliance in the development of renewables |website = agenzianova.com |date = 18 September 2023}}

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.{{cite web |url = https://www.bloomberg.com/news/articles/2021-04-13/acs-said-to-weigh-construction-spinoff-amid-focus-on-toll-roads |title = ACS Weighs Construction Spinoff Amid Toll Roads Focus |publisher = Bloomberg |first = Rodrigo |last = Orihuela |date = 13 April 2021}} 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).{{cite web |url = https://www.reuters.com/article/business/spain-s-acs-confirms-bid-for-atlantia-s-stake-in-motorway-unit-idUSKBN2BW0Z5/ |title = Spain's ACS confirms bid for Atlantia's stake in motorway unit |publisher = Reuters |date = 9 April 2021}} In September 2022, Atlantia sold its 14.46% stake in Hochtief to ACS Group in exchange for 577.8 million euros ($576.9 million).{{cite web |url = https://www.reuters.com/markets/europe/atlantia-sells-hochtief-stake-acs-578-mln-euros-2022-09-15/ |title = Atlantia sells Hochtief stake to ACS for 578 mln euros |publisher = Reuters |date = 15 September 2022}}

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.{{cite news |url=https://www.reuters.com/markets/europe/spains-six-top-builders-fined-restricted-over-bidding-collusion-2022-07-07 |title=Spain's six top builders fined, restricted over bidding collusion |date=7 July 2022 |newspaper=Reuters |access-date=15 March 2024}}

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.{{Cite web |last=Evans |first=Jason |date=30 July 2024 |title=Integration of Flatiron and Dragados North America Civil Construction businesses to create value for HOCHTIEF and ACS |url=https://www.flatironcorp.com/news/integration-of-flatiron-and-dragados-north-america-civil-construction-businesses-to-create-value-for-hochtief-and-acs/ |access-date=30 July 2024 |website=Flatiron |language=en-US}}{{cite web |url = https://www.reuters.com/markets/deals/germanys-hochtief-spains-acs-merge-us-subsidiaries-2024-07-30/ |title = Germany's Hochtief, Spain's ACS merge US subsidiaries |publisher = Reuters |date = 30 July 2024}} 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.{{cite web |url = https://www.reuters.com/business/urgent-acs-reports-17-rise-2023-net-profit-stoked-by-construction-overseas-2024-02-29/ |title = ACS posts 17% rise in 2023 profit stoked by construction overseas |publisher = Reuters |first = Corina |last = Pons |date = 29 February 2024}}

{{div col|colwidth=18em}}

• Dragados North America
• Dragados USA
• Pulice
• John P. Picone Inc
• Schiavone Construction Co. LLC
• Prince Contracting
• J.F. White Contracting Co.
• Dragados Canada
• VYCSA
• Roura & Cevasa
• Electren
• Constru-Rail
• Edileuropa Di Stivaletti Michele
• TECSA
• Drace
• Dravosa
• GEOCISA
• COGESA
• Dycvensa
• Dycasa
• Pol-Aqua
• Hochtief (66.5%)
• Turner
• Clark Builders
• Tompkins Builders
• Flatiron
• E.E. Cruz and Company
• CIMIC Group
• Sedgman
• CPB Contractors
• Leighton Asia
• Thiess
• UGL
• Ventia

• Iridium Concesiones de Infraestructuras

• 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

• Clece
• Dragados SPL
• Continental-Rail

• Abertis (25%)
• Urbis

{{div col end}}

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

Major projects involving the company have included the Alqueva Dam completed in 2002,{{cite web |url=http://en.structurae.de/structures/data/index.cfm?ID=s0024209 |title=Alqueva Dam on Structurae database |language=de |publisher=En.structurae.de |access-date=2 December 2011}} the Palau de les Arts Reina Sofia completed in 2005,{{cite web |url=http://en.structurae.de/structures/data/index.cfm?ID=s0002428 |title=Palau de les Arts Reina Sofía on Structurae database |language=de |publisher=En.structurae.de |date=27 November 2008 |access-date=2 December 2011}} the Torre Agbar completed in 2005,{{cite web |url=http://en.structurae.de/structures/data/index.cfm?ID=s0000429 |title=Torre Agbar on Structurae database |language=de |publisher=En.structurae.de |access-date=2 December 2011}} the Torre de Cristal completed in 2008,{{cite web |url=http://en.structurae.de/structures/data/index.cfm?ID=s0024337 |title=Torre de Crystal on Structurae database |language=de |publisher=En.structurae.de |access-date=2 December 2011}} the Torre Caja Madrid completed in 2008,{{cite web |url=http://en.structurae.de/structures/data/index.cfm?ID=s0024336 |title=Torre Caja Madrid on Structurae database |language=de |publisher=En.structurae.de |date=27 November 2008 |access-date=2 December 2011}} the LGV Perpignan–Figueres High Speed railway completed in 2009,{{cite web|url=http://en.structurae.de/projects/data/index.cfm?id=p00133 |title=LGV Perpignan-Figueras on Structurae database |language=de |publisher=En.structurae.de |access-date=2 December 2011}} the Portugués Dam in Ponce, Puerto Rico completed in 2014{{cite web |url=http://www.saj.usace.army.mil/Divisions/ProgramProjectMgt/Branches/CoastNavAnt/DOCS/PortuguesDam/PortuguesDamBrochure_Mar2009.pdf |title=Portugues Dam |access-date=2 December 2011 |archive-url=https://web.archive.org/web/20110927120853/http://www.saj.usace.army.mil/Divisions/ProgramProjectMgt/Branches/CoastNavAnt/DOCS/PortuguesDam/PortuguesDamBrochure_Mar2009.pdf |archive-date=27 September 2011 |url-status=dead }} and the Crescent Dunes Solar Energy Project completed in 2016.{{cite web |url=https://www.power-technology.com/projects/crescent-dunes-solar-energy-project-nevada/ |title=Crescent Dunes Solar Energy Project |publisher=Power Technology |access-date=5 February 2020}}

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