Infrastructure & Industrial Constructors USA will be acquired by Shikun & Binui, a leading Israeli infrastructure and real estate company operating in more than 20 countries. The move is part of S&B’s strategy to develop and establish a meaningful presence in the U.S. infrastructure market, with local construction capabilities.
i+iconUSA, which is based in Pittsburgh, will become a subsidiary of Shikun & Binui America, the U.S. construction arm of S&B out of South Florida. However, i+iconUSA will continue to operate independently with the existing management team leading the company.
The transaction will have no impact on the location of i+iconUSA’s existing offices or its workforce.
i+iconUSA operates through subsidiaries Fay, an i+iconUSA Company and i+iconSOUTHEAST. With more than 70 years of heavy construction experience in Pennsylvania, Maryland, Virginia and Florida, it specializes in the transportation, ports and waterways and industrial markets. It is led and will continue to be led by President and CEO Les Snyder and his management team.
“The acquisition by SBA expands our capabilities, launching i+iconUSA toward more and larger pursuits, inspiring us to achieve new milestones,” Snyder said in a statement. "It provides greater opportunities for all i+iconUSA stakeholders, particularly its employees, because SBA considers our human capital to be the utmost priority."