Zachry buys water builder amid infrastructure push

The San Antonio-based builder is expanding its water infrastructure capabilities through the acquisition of Crescent Constructors, joining a wave of consolidation in the construction sector.

Zachry Construction has acquired Crescent Constructors as major builders position themselves for growth in the water infrastructure sector amid PFAS contamination concerns and aging systems, Construction Dive reports.

Travis Mross, executive vice president of Zachry, said water and transportation infrastructure represent significant expansion opportunities for the company.

“Transportation and water infrastructure represent significant opportunities for Zachry Construction and Crescent Constructors to expand our impact, address critical societal needs, and deliver long-term value for our clients,” Mross said.

The deal comes as construction M&A activity has surged post-pandemic, with global transactions increasing 60% to approximately 1,800 deals annually between 2020 and 2024, compared to 1,100 between 2014 and 2019, according to McKinsey.

However, economic uncertainty has dampened some dealmaking. WSP CEO Alexandre L’Heureux noted in May that instability and lack of visibility were major headwinds for M&A activity.

“With the strength of Zachry’s national platform behind us, we are excited to grow our capabilities and continue delivering essential infrastructure,” said Mike Daigre, founder of Crescent Constructors.