Completion is subject to any necessary regulatory approvals and is expected in early 2025, but with FM Conway’s annual turnover of £580m and employing over 2,000 people, Vinci Construction hopes that the acquisition can immediately facilitate its own business ventures.

On completion of the agreement, Joanne Conway has stepped away from the company and board member, Andrew Hansen, will oversee FM Conway within Vinci.

FM Conway managing director Andrew Hansen said: “This is an exciting new chapter in FM Conway’s story, opening up fantastic opportunities for how we deliver for our clients and for communities.

“We’ve always been a company that has pushed boundaries and embraced new opportunities. Over the past 27 years, I’ve had the pleasure of seeing firsthand what this business can accomplish.

“Now with the additional firepower of Vinci Construction behind us, I’ve no doubt that our people will continue to achieve great things. The future is very bright.”