Japan’s Obayashi Group has agreed to acquire UK-headquartered contractor Multiplex from Brookfield in a transaction valued at approximately US$540 million, creating one of the world’s largest international construction groups.
The acquisition expands Obayashi’s presence in Australia, a market the company views as offering long-term growth driven by population increases, urban development, and sustained infrastructure investment. Obayashi also plans to leverage Multiplex’s expertise in delivering large-scale office and mixed-use developments across the UK while supporting its expansion into Canada.
Multiplex will continue to operate independently following the acquisition, while gaining access to Obayashi’s engineering expertise, technical capabilities, and global development network.
“This is a milestone moment for Multiplex,” said John Flecker, Chief Executive of Multiplex Global. “Obayashi brings significant engineering expertise and global capability, viewing Multiplex as the perfect fit for its long-term global growth strategy.”
The two companies have previously collaborated on major projects, including Sydney’s Olympic Stadium for the 2000 Olympic Games. The acquisition is expected to close in September 2026.
The transaction reflects the continued globalization of the construction sector, as major contractors pursue international partnerships to strengthen technical expertise, diversify geographic markets, and compete for increasingly complex large-scale developments across the office, mixed-use, infrastructure, and high-rise sectors.
Read more at Global Construction Review.