Arcadis, the international consultancy, design, engineering and management services company, signed a merger agreement through which it acquired the ownership of Davis Langdon & Seah (DLS), a cost and project management consultancy working across Asia, with 2,800 people in 10 countries.
DLS 2011 revenues were over US$125 million, with normalized operating margins well above the Arcadis target level. The business was owned by 15 international partners and 42 local partners that will all stay with the company to build a joint future with Arcadis.
Arcadis financed the merger by issuing 2.2 million shares to the DLS partners, in addition to an undisclosed cash amount through existing credit facilities. The shares have lock-up periods of 12 to 36 months after closing. The transaction is expected to be immediately accretive to earnings per share (based on net income from operations, which excludes amortization). Further financial details were not disclosed. BD+C
Related Stories
| Jun 26, 2014
Plans for Britain’s newest landmark brings in international cooperation
Designers of the London Eye will team up with companies from France, the Netherlands and the United States to construct i360 Brighton, the U.K.'s newest observation tower.
| Jun 25, 2014
The best tall buildings of 2014
Four high-rise buildings from multiple continents have been selected as the best of their region. The best worldwide tall building will be announced November 6.
| Jun 25, 2014
AIA Foundation launches Regional Resilient Design Studio
The Studio is the first to be launched as part of the AIA Foundation’s National Resilience Program, which plans to open a total of five Regional Resilience Design Studios nationwide in collaboration with Architecture for Humanity, and Public Architecture.
| Jun 25, 2014
Frank Lloyd Wright’s Spring House, Cincinnati’s Union Terminal among 11 Most Endangered Historic Places for 2014
The National Trust for Historic Preservation released its annual list of 11 Most Endangered Historical Sites in the United States for 2014.
| Jun 25, 2014
Best of Britain: 56 buildings make it to the RIBA Stirling Prize's longlist
The longlist for the 2014 prize includes Foster + Partners' Marseille and London's now-famous Shard, designed by Renzo Piano.
| Jun 25, 2014
Green Building Initiative Announces New Appointments to Board
Glumac consulting engineer CEO Steve Straus and Plum Creek director of real estate Doug Cole join GBI's board of directors.
| Jun 25, 2014
Taking a page from Lean manufacturing for improved design review processes
SPONSORED CONTENT As more building project teams look for ways to collaborate better, technology continues to provide solutions. Yet, as I learned from the experience of one of my customers, choosing the wrong technology can have an underwhelming effect, causing a team to simply swap out old challenges for new ones.
| Jun 24, 2014
From Babylon to Sydney: The evolution of the modern workspace [infographic]
This infographic, made by Sunica de Klerk and originally posted by ArchDaily, shows the evolution of the office from 2400 B.C. to the present day.
| Jun 24, 2014
Mayor Rahm Emanuel announces plans for a Chicago Architecture Biennial
Chicago's mayor Rahm Emanuel announces plan to hold the Chicago Architecture Biennial in late 2015, intended to rival Venice's Biennale.
| Jun 24, 2014
Intuit begins work on LEED Platinum campus addition
Demolition will begin this week as a precursor to construction of Intuit's new addition to its Mountain View, Calif., campus. The first of two additions, a 185,000-sf building on Marine Way, is expected to begin construction in August.