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
| Jan 30, 2013
Design Firm Little Expands Durham Interiors Studio
Both Benner and Byers have expertise in market sectors such as corporate, retail, hospitality, healthcare, research /technology, critical facilities, civic and education.
| Jan 22, 2013
Midwestern Construction Company Acquires Local Architecture Firm
St. Charles, Ill.-based design/build and construction firm acquires architecture firm.
| Jan 17, 2013
Thornton Tomasetti Founding Principal Thornton receives ASCE Lifetime Achievement Award
The OPAL Lifetime Achievement Award is given to civil engineers who “represent a model of achievement to which future generations of engineers aspire to match or exceed.”
| Jan 16, 2013
2013 40 Under 40 application process now open
Building Design+Construction's 40 Under 40 is open to AEC professionals from around the globe.
| Jan 16, 2013
SOM’s innovative Zhengzhou Greenland Plaza opens
The 2.59-million-square-feet building houses a mixed-use program of offices on its lower floors and a 416-room hotel.
| Jan 15, 2013
Morris Architects joins Huitt-Zollars
Morris, which will continue to provide services under its current name and leadership, is entering its 75th year of continuous practice as an architectural, interior design, landscape architecture, and planning firm.
| Jan 11, 2013
HMC Architects: In their own voices
See what HMC professionals say about their “Best AEC Firm to Work For”
