Fluor buys Dutch power plant builder for $755m

Fluor Corporation has announced a deal to purchase Dutch engineering and construction firm Stork from its private equity owner Arle Capital, for $755m.

Stork's main business is in modifying and maintaining large gas, and power plants.
Fluor sign
Reuters reports that the deal offers around seven times Storks' annual earnings before interest, taxes, depreciation and amortization (EBITDA) of 100 million euros ($109 million), the companies said.

Fluor said the acquisition would combine well with its own operations in the same industry and give it access to Stork's customer base , which spans the globe but is most focused in Europe.

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