2002: Acquisition of HBG
The decisive moment in BAM’s growth toward its current size and structure came in 2002, with the acquisition of the entire share capital of HBG. This acquisition followed shortly after HBG had been taken over by Spanish contracting firm Dragados, which had consequently been taken over itself by Grupo ACS. BAM and Grupo ACS then reached an agreement for the acquisition of the HBG shares.
After the acquisition, BAM and HBG joined forces on the basis of equality, reflected in among other things an equal number of seats on the Executive Board and a new corporate style that brought together the BAM logo and the colours of HBG: green and orange. The new name of the Group: Royal BAM Group nv (‘Koninklijke BAM Groep nv’.)
The addition of HBG meant that the Group became the largest overall contracting company in the Netherlands, with an annual turnover in 2002 of over EUR 3.5 billion. BAM Group also had a top-ten position in the European market. In addition the Netherlands, the Group’s home countries were the UK, Ireland, Germany and Belgium, while there were also numerous projects in niche markets outside of Europe.