Family Ownership Transition at Road Construction Company Viabuild

Square Group acquires 50% of infrastructure company Viabuild

Construction group Square is acquiring half of the shares in Viabuild, Belgium’s third-largest player in road construction and infrastructure. The Deckx family will retain the other 50%.

Anyone driving across the Vilvoorde viaduct can’t miss the ongoing renovation works. Behind those works are two of the country’s biggest construction players: Stadsbader and Viabuild.

In early 2024, the Verhaeren family began looking for a buyer for its stake in Viabuild. The initiative came from brothers Michel and Christian Verhaeren, who jointly owned half of the company. Depending on the type of buyer, the Deckx family expressed willingness to remain on board.

The deal has now been sealed. Square Group is acquiring the Verhaeren family’s shares for an undisclosed amount, taking a 50% stake in Viabuild. The Deckx family will stay on as shareholder, with Pieter and Jan Deckx both active in the company’s operations. The transaction is still subject to approval by the competition authority.

Square Group, owned by the De Buck van Overstraeten family, operates through Aclagro in infrastructure works, demolition, and soil remediation. Through AC Materials, it focuses on concrete production and the recycling of construction debris. In 2023, the group posted revenue of €170 million. Viabuild, by comparison, reported €174 million in revenue the same year.

Third generation at the helm

The Verhaeren family founded its construction company in 1956, led by Ferdinand Verhaeren—the grandfather of Michel and Christian. What started as a small local roadworks contractor grew into a broader contractor active in road construction, demolition, earthworks, asbestos removal, and civil engineering.

Initially working solely for public clients, the company gradually moved into private-sector projects as well. Today, the Puurs-based group is Belgium’s number three in road and infrastructure construction, following Stadsbader and Willemen. French player Colas ranks fourth.

Between 2008 and 2015, investment company Gimv held a 30% stake in the business. In 2015, the founding families—then holding 70%—bought out Gimv. During its partnership with Gimv, Viabuild (then still largely known as Verhaeren) completed nine acquisitions, expanding its geographic reach and service portfolio.

The transaction was advised by M&A firm Merodis. Legal counsel for the families was provided by law firms Baker McKenzie, Stibbe, and De Groote-De Man.

Source: De Tijd, Michaël Sephiha, 29/01/2025, This is an automatically generated translation of the original article, Link to original article.