Florentino Perez relaunches its business commitment in Spain. The group he presides, Construction and Services Activitieshas begun to shore up a expansion plan in Europe that takes advantage of the tailwind of the megatrends coming from the US with the deployment in Madrid of its flagship in the construction of infrastructures of “new generation“, the subsidiary that until now operated only in North America, Turner Construction Company.
The American brand under the control of ACS and a benchmark in its main market by income has recently started operations in the Spanish capital under the direct supervision of the Peter Davorenpresident and CEO of Turner in USA. And this, with a view to channeling opportunities around the market for data centers and the expansion of artificial intelligencethe industry of biopharma and new generation health centers, the growing vein of semiconductorshe green hydrogenthe electric batteries and the sustainable mobility in general.
Recently, the CEO of ACS, Juan Santamariatold analysts and investors that the group had begun to analyze opportunities to grow in Europe and replicate the model already consolidated in the US, where Turner has emerged as the main infrastructure partner of multinational technology companies. The current right-hand man at Florentino Pérez’s construction company has announced that they have plans alternatives from different European niche companies, as well as larger companies with even billion-dollar values.
For now, ACS has assumed the order from the Government of Spain to build the first level 4 Biological Containment Laboratory (the highest possible security level and the first of this type in Spain).
As for public opportunities, the group listed on the Ibex 35 aims to stay with Acciona with the main lot of the works of the City of Justice in the Community of Madrid, which also plans to tender soon the City of Health. For now, ACS has also assumed the order from the Government of Spain to build the first Level 4 Biological Containment Laboratory (the highest possible security and the first of its kind in Spain) which may be available to the Environmental Health Research Center (CISA) for research with “pathogens that cause infectious diseases in humans or animals that can be easily transmitted from one individual to another.” A project that would represent the first ‘laboratory against pandemics’ in Spain and that would be financed with 28.7 million euros from European funds Next Generation.
At the end of 2023, the ACS group also announced a first project in the segment of data centers in Spain: the initiative to build and operate a data center with 50 megawatts of power in the Henares Corridora zone premium within the “potential” of the Spanish market, in the words of ACS. The corridor connects with the main fiber axis in the Peninsula by connecting the capitals of Madrid and Barcelona and it also covers an area exempt from the energy supply problem that the segment suffers from in the country. The ACS asset, which has already purchased the land ready to build to the manager Arcano, could begin to be operational in 2025, although its development could last up to five years after an investment that could exceed 100 million euros.
Florentino and Fainé promote ACS with one foot in Telefónica
ACS ultimately faces a new pivotal stage in its history: after expansion and consolidation in the United States and Australia, it is now aiming to relaunch the business in Europe. And this, with a view to cross the barrier of 1,000 million profits in 2026 after a cash flow that is expected to range between 5,000 and 7,000 million in the three-year period.
In this sense, the bet will focus on the construction of data centers, biotechnology and renewable energy every time they promise a double-digit growth in margins. A recipe that has earned the support of Isidro Fainé’s investment arm, Criteria Caixaa new reference shareholder of the group listed on the Ibex 35.
For Fainé and his right hand at Criteria, Angel SimonACS covers an entrance door with guarantees to a new framework of strategic business lines for Spain and with increasing potential synergies, for example, with Telephonewhere Criteria also aims to grow.
In the telecom company listed on the Ibex, an ACS director already serves as vice president, José Javier Echenique Landiribarwhile for a few weeks now another member of the circle closest to Florentino, the executive at Real Madrid, has also joined the Telefónica Board. Carlos Ocaña Orbisrepresenting the Government.
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