BAM expands infrastructure presence with VLST stake

BAM is strengthening its position in the Dutch energy and water infrastructure sector by acquiring a 40 percent stake in Van Leeuwen Sleuven Techniek (VLST), a specialist in horizontal directional drilling (HDD). The transaction is valued at approximately 45 million euros and is expected to be finalized in the first quarter of 2027.

VLST utilizes HDD technology to install underground cables and pipelines without disrupting roads or green spaces. This capability is increasingly critical as grid operators work to expand electricity networks and water companies manage growing demand for new connections. VLST operates 19 drilling rigs across the Netherlands and is projected to achieve an annual turnover of approximately 60 million euros with an EBITDA margin of around 18 percent.

Under the agreement, VLST shareholders will remain actively involved in the daily management of the company to maintain its operational agility. This investment follows BAM's recent acquisition of A. Hak.