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
Architects | Feb 19, 2015
Illustrator Federico Babina imagines architecture from nowhere
The illustrator imagines architecture where past, present, and future intertwine.
Codes and Standards | Feb 18, 2015
USGBC concerned about developers using LEED registration in marketing
LEED administrators are concerned about a small group of developers or project owners who tout their projects as “LEED pre-certified” and then fail to follow through with certification.
Multifamily Housing | Feb 18, 2015
Make It Right unveils six designs for affordable housing complex
BNIM is among the six firms involved in the project.
Office Buildings | Feb 18, 2015
Commercial real estate developers optimistic, but concerned about taxes, jobs outlook
The outlook for the commercial real estate industry remains strong despite growing concerns over sluggish job creation and higher taxes, according to a new survey of commercial real estate professionals by NAIOP.
Museums | Feb 18, 2015
Foster + Partners' National Museum of Marine Science and Technology breaks ground in Taiwan
The museum will be home to an aquarium, exhibition space, and waterfront views.
University Buildings | Feb 18, 2015
Preparing for the worst: Campus security since Virginia Tech
Seven years after the mass shootings at Virginia Tech, colleges and universities continue to shake up their emergency communications and response capabilities to shootings and other criminal threats.
Office Buildings | Feb 18, 2015
Why the mobile workplace isn't always mobile
Perkins+Will’s Janice Barnes addresses the nuance in mobility types and explains the importance of defining terms upfront.
University Buildings | Feb 17, 2015
BD+C exclusive: How security is influencing campus design and construction
Campus crime—whether real or perceived—presents Building Teams with more opportunities for early-stage consultation with university clients.
Architects | Feb 17, 2015
Architecture billings dip in January, severe weather likely to blame
“This easing in demand for design services is a bit of a surprise given the overall strength of the market over the past nine months,” said AIA Chief Economist Kermit Baker.
Multifamily Housing | Feb 17, 2015
California launches pilot program to finance multifamily retrofits for energy efficiency
The Obama Administration and the state of California are teaming with the Chicago-based MacArthur Foundation on a pilot program whose goal is to unlock Property-Assessed Clean Energy financing for multifamily housing.
