September 2017 – Martin LLP is pleased to announce that its client, the principal owners of Halmar International LLC, one of the largest infrastructure construction companies operating in the metropolitan area of New York, have sold a 50% interest in Halmar to Itinera USA Corp, a subsidiary of Itinera S.p.A. Itinera is the fourth largest highway operator in the world and its parent company, The Gavio Group, is one of Italy’s largest industrial conglomerates.
Martin LLP acted as legal counsel to Halmar and its selling equity holders.
Halmar is a privately owned company boasting more than 50 years of history and overall revenue of about $250 million in 2016, as well as a project backlog exceeding $500 million. With its new partner, Halmar aims by 2021 to achieve overall revenue of about $450 million.
With Itinera’s partnership and investment, Halmar will be able to improve its ability to successfully respond to EPC (Engineering, Procurement & Construction) contractor opportunities, expand its bonding capacity and, at the same time, focus on new Private Public Partnership (PPP) projects that many states are launching to implement planned large-scale infrastructure projects.