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
| Aug 24, 2012
Meis heads to Woods Bagot Sport
Staples Center, Paul Brown Stadium architect to leverage global studio to serve clients worldwide.
| Aug 21, 2012
Under 40 Leadership Summit slated for October 3-5 in Chicago
Attendees will be given an exclusive technical tour of Wrigley Field, led by Steven J. Jacobsen, CDP, who has been retained by the Chicago Cubs to create the business plan and high-level concepts to evaluate the feasibility of various renovation options for this iconic sports venue; and Carl Rice, Cubs’ Vice President, Baseball Operations.
| Aug 21, 2012
Hong Kong’s first LEED Platinum pre-certified building opens
Environmentally-sensitive features have been incorporated, including reduced operational CO2 emissions, and providing occupiers with more choice in creating a suitable working environment.
| Aug 21, 2012
Stellar wins four ABC Excellence In Construction awards
ABC's Excellence In Construction program is the industry’s leading award competition, recognizing outstanding construction projects in a variety of categories.
| Aug 20, 2012
Protecting the artifacts at George H.W. Bush Presidential Library and Museum
Roof leaks threatened to damage artifacts and disturb a delicately controlled indoor environment at the George H.W. Bush Presidential Library and Museum.
| Aug 17, 2012
Ferreri joins PGAL as Principal
Ferreri will be responsible for business development, contract negotiation, project design through construction and staff management/mentoring.
| Aug 17, 2012
Centric Architecture and PLAD Studio merge
The new firm will retain Centric Architecture as its name.
| Aug 15, 2012
MBH Architects announces new appointments
MBH Architects continues to grow, take on new clients.
| Aug 15, 2012
Architects and designers challenged in Allsteel’s reality design competition
KITS mobile app offers flexibility in planning.
| Aug 14, 2012
Leo A Daly welcomes Carl Gentilcore
Gentilcore will be responsible for identifying, developing and managing client relations with key federal government agencies.