Giant design/engineering firm WSP Global said today it plans to acquire infrastructure professional services firm Parsons Brinckerhoff from PB's parent organization, Balfour Beatty plc. The deal, which has been approved by the boards of WSP and Balfour Beatty, has an enterprise value of $1.243 billion, plus another $110 million in cash retained by PB.
The acquisition, if approved by Balfour Beatty shareholders and cleared by antitrust regulators, would create a mega-firm of more than 30,000 employees - 17,500 from Montreal-based WSP, 13,500 from New York-based Parsons Brinckerhoff. WSP currently has >300 offices in 30 countries on 5 continents; PB has 170 offices worldwide, with about 5,000 employees in the U.S.
The consolidation would strengthen WSP's position in the U.S. transportation segment and in the United Kingdom, where Parsons Brinckerhoff is a strong player. WSP said in a release that the move would also give the firm "a stronger presence in key growth regions such as Asia and Australia."
Parsons Brinckerhoff was founded in 1885. It is known for its expertise in infrastructure services in water, mining, power, transportation, energy, community development, and environment.
WSP, which acquired Flack & Kurtz in 2012, is considered a major player in urban planning and environmental projects, and in the engineering of complex buildings.
Related Stories
Sustainability | Mar 21, 2024
World’s first TRUE-certified building project completed in California
GENESIS Marina, an expansive laboratory and office campus in Brisbane, Calif., is the world’s first Total Resource Use and Efficiency (TRUE)-certified construction endeavor. The certification recognizes projects that achieve outstanding levels of resource efficiency through waste reduction, reuse, and recycling practices.
Office Buildings | Mar 21, 2024
Corporate carbon reduction pledges will have big impact on office market
Corporate carbon reduction commitments will have a significant impact on office leasing over the next few years. Businesses that have pledged to reduce their organization’s impact on climate change must ensure their next lease allows them to show material progress on their goals, according to a report by JLL.
Adaptive Reuse | Mar 21, 2024
Massachusetts launches program to spur office-to-residential conversions statewide
Massachusetts Gov. Maura Healey recently launched a program to help cities across the state identify underused office buildings that are best suited for residential conversions.
Legislation | Mar 21, 2024
Bill would mandate solar panels on public buildings in New York City
A recently introduced bill in the New York City Council would mandate solar panel installations on the roofs of all city-owned buildings. The legislation would require 100 MW of solar photovoltaic systems be installed on public buildings by the end of 2025.
Office Buildings | Mar 21, 2024
BOMA updates floor measurement standard for office buildings
The Building Owners and Managers Association (BOMA) International has released its latest floor measurement standard for office buildings, BOMA 2024 for Office Buildings – ANSI/BOMA Z65.1-2024.
Healthcare Facilities | Mar 18, 2024
A modular construction solution to the mental healthcare crisis
Maria Ionescu, Senior Medical Planner, Stantec, shares a tested solution for the overburdened emergency department: Modular hub-and-spoke design.
Codes and Standards | Mar 18, 2024
New urban stormwater policies treat rainwater as a resource
U.S. cities are revamping how they handle stormwater to reduce flooding and capture rainfall and recharge aquifers. New policies reflect a change in mindset from treating stormwater as a nuisance to be quickly diverted away to capturing it as a resource.
Plumbing | Mar 18, 2024
EPA to revise criteria for WaterSense faucets and faucet accessories
The U.S. Environmental Protection Agency (EPA) plans to revise its criteria for faucets and faucet accessories to earn the WaterSense label. The specification launched in 2007; since then, most faucets now sold in the U.S. meet or exceed the current WaterSense maximum flow rate of 1.5 gallons per minute (gpm).
MFPRO+ New Projects | Mar 18, 2024
Luxury apartments in New York restore and renovate a century-old residential building
COOKFOX Architects has completed a luxury apartment building at 378 West End Avenue in New York City. The project restored and renovated the original residence built in 1915, while extending a new structure east on West 78th Street.
Multifamily Housing | Mar 18, 2024
YWCA building in Boston’s Back Bay converted into 210 affordable rental apartments
Renovation of YWCA at 140 Clarendon Street will serve 111 previously unhoused families and individuals.
