WSP to acquire Parsons Brinckerhoff in $1.35 billion deal

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.

It’s no accident that the word “Highline” is in this project’s name. The goal is for the building to be a kind of gateway into the larger redevelopment of the surrounding neighborhood to resemble New York’s City’s trendy downtown Meatpacking District, through which runs a portion the High Line elevated park.

Healthcare Facilities | Feb 1, 2015

7 new factors shaping hospital emergency departments

A new generation of highly efficient emergency care facilities is upping the ante on patient care and convenience while helping to reposition hospital systems within their local markets.

Common areas in multifamily buildings, often look more like lobbies found in hotels in the multifamily housing game

Multifamily Housing | Jan 31, 2015

5 intriguing trends to track in the multifamily housing game

Demand for rental apartments and condos hasn’t been this strong in years, and our experts think the multifamily sector still has legs. But you have to know what developers, tenants, and buyers are looking for to have any hope of succeeding in this fast-changing market sector.