BAM acquires A.Hak for a total consideration of € 504m

Transaction summary

Bunnik, 7 October 2026 – Royal BAM Group (“BAM”) has reached an agreement to acquire A.Hak, a leading specialist in underground infrastructure, for a total consideration of € 504m. The combination significantly strengthens BAM’s position in the fast-growing Dutch market for energy and water infrastructure and brings together two businesses with highly complementary capabilities, customer relationships and geographic coverage.

Demand for underground infrastructure is growing strongly. In the Netherlands, electricity and gas network operators plan to invest € 235 billion between 2026 and 2040, alongside rising investment in water infrastructure. Combined, the businesses are well positioned to support customers in delivering the critical infrastructure required for the energy and water transition.

Ruud Joosten, CEO of Royal BAM Group:

“The acquisition of A.Hak is a major step in BAM’s growth strategy and significantly strengthens our position in the fast-growing market for energy and water infrastructure in the Netherlands. A.Hak complements our existing capabilities with specialist expertise in transport pipelines and trenchless techniques, while BAM brings strong energy transmission and distribution activities, civil engineering capabilities, and experience delivering integrated solutions. The businesses also complement each other geographically, creating strong nationwide coverage and enabling us to offer customers a broader and integrated range of services.”

The transaction is expected to close in the first quarter of 2027, subject to satisfaction of customary conditions.

Press releases: Royal BAM Group and A.Hak

Emendo Capital acted as financial adviser to BAM.

About Royal BAM Group

Royal BAM Group is a leading construction and property development company listed on Euronext Amsterdam with over 150 years of experience in delivering sustainable buildings, homes and infrastructure for public and private sector clients. With approximately 13,500 employees, BAM realized a revenue of € 7.0 billion in 2025.

For additional information on Royal BAM Group, visit https://bam.com/

About A.Hak

With more than 60 years of experience, A.Hak has built a strong position in critical underground infrastructure for electricity, water, gas and heat networks. Its capabilities span distribution networks, transmission pipelines, high-voltage and medium-voltage cable infrastructure, and in-house specialist trenchless technique capabilities. The company has a sizeable, highly skilled operational workforce of circa 900 full-time employees.

For additional information on A.Hak, visit https://ahak.nl/