i+iconUSA is now a member of the Shikun & Binui America Group Poised to move forward on Joint Design-Build and P3 Projects
Pittsburgh – Shikun & Binui America (SBA), a subsidiary of Shikun & Binui (S&B), has completed its purchase of Infrastructure and Industrial Constructors USA, LLC (i+iconUSA), as part of its long-term U.S. expansion strategy in the infrastructure market.
i+iconUSA is now a wholly owned subsidiary of SBA and will continue to operate independently and retain its current branding; namely i+iconUSA, i+iconSOUTHEAST, and Fay, an i+iconUSA Company. CEO, Les Snyder, and the current management team from i+iconUSA will continue to lead the company. A joint working relationship with SBA is being established, with a focus on where there is added value from S&B global knowledge and experience in larger design-build and P3 projects and where i+iconUSA provides expertise and capabilities to support SBA’s P3 and Design-Build pursuits.
Eyal Cohen, CEO of SBA, said “We are very excited about the finalization of this strategic transaction which will allow SBA and i+iconUSA to pursue future business opportunities, both as independent organizations and as partners in joint pursuits. i+iconUSA will serve as an important platform for our operation and will allow S&B to execute its growth strategy in the U.S. market.”
“It’s refreshing to have a strategic owner that shares our core values and holds our employees in the highest regard, realizing that we have untapped potential to be an even bigger player in the infrastructure market” added Les Snyder, President and CEO of i+iconUSA, “we will now be able to continue what we do best, creating safe and innovative infrastructure solutions, but with expanded capabilities that will launch us toward more and larger pursuits.”
i+iconUSA offers SBA a strong U.S. foundation to build upon, with over 70 years of successful project delivery for clients ranging from DOTs to large US and global private customers. In SBA, which was formed as part of S&B’s desire to strategically expend into the US, i+iconUSA gains an international industry leader, with substantial financial capabilities, that generated more than $1.7 billion in revenue during 2018 and more than two decades of vast global P3 experience with over 15 successful mega-projects including roads, social infrastructure, and industrial plants.