大豊建設 acquired 17% of UNICON HD's outstanding shares and entered into a capital and business alliance. The companies aim to strengthen their response to civil engineering demand related to national resilience and jointly pursue orders for large infrastructure projects.
Mid-sized general contractor 大豊建設 announced on the 25th that it had acquired 17% of the outstanding shares of UNICON Holdings (UNICON HD), which owns regional general contractors in southern Tohoku, and entered into a capital and business alliance with the company. The two companies aim to jointly pursue orders for large infrastructure construction projects and respond to growing demand for civil engineering work.
大豊建設 acquired the shares from Endeavour United, UNICON HD's largest shareholder, and will become its second-largest shareholder. The transfer price was not disclosed, and Endeavour United's stake will be 23%. 大豊建設's strengths include construction technologies for new large-scale infrastructure, such as shield tunneling.
By partnering with a major contractor, UNICON HD will supplement the expertise needed for large infrastructure construction projects such as tunnels. The companies will also cooperate on training engineers and promoting digital transformation. Future plans also include considering the establishment of joint ventures, as well as sharing information on M&A opportunities and making joint investments.
Following the announcement on the morning of the 25th, UNICON HD's share price surged in the afternoon session, ending up ¥51, or 5.62%, from the previous day.