“SPA’s expertise in pavement recycling provides an exciting opportunity to leverage our existing relationship and combine the strengths of both businesses,” the internal email said.
SPA has been around since 1984 and is now the largest specialised stabilisation contractor in Australia.
Fulton Hogan’s business goes back to 1933, when it was founded as a contracting business by Jules Fulton and Bob Hogan.
It now employs over 7800 staff and had $NZ4.7 billion ($4.4 billion) revenue and $NZ380 million EBITDA in the 2018 financial year. In May 2018, it hired Macquarie Capital to vet buyers for its Australian construction business, which generated over $2 billion revenue at the time.
