Family ties cut as granddaughter of founder steps away from 60-year-old business
French giant Vinci has completed its acquisition announced last autumn of FM Conway for an undisclosed sum.
The company, based in Sevenoaks, Kent, was founded in 1961 by Frank Conway and has been family-owned ever since.
His granddaughter Joanne Conway took over the role of chair and CEO of FM Conway following her father Michael Conway鈥檚 death three years ago.
Under the deal with Vinci, she has now stepped away from the business with current board member Andrew Hansen, who joined the company in 1998, becoming FM Conway managing director and an executive committee member of the UK division of Vinci Construction.
FM Conway, which employs 2,000 people, had a turnover of 拢580m in the year to March 2024, up from 拢535m, and made a pre-tax profit of 拢29m, nearly double the 2023 number.
It specialises in road maintenance and civil engineering as well as lighting, cabling and traffic management.
Vinci said it will run the firm as standalone business with new arrivals to the Conway board including Vinci鈥檚 UK construction boss Scott Wardrop and its finance director Xavier Lansade.
Vinci is due to release its 2024 results later this week.
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