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
| Mar 27, 2014
Develop strategic thinkers throughout your firm
In study after study, strategic thinkers are found to be among the most highly effective leaders. But is there a way to encourage routine strategic thinking throughout an organization?
| Mar 27, 2014
16 kitchen and bath design trends for 2014
Work on multifamily housing projects? Here are the top kitchen and bath design trends, according to a survey of more than 420 kitchen and bath designers.
| Mar 26, 2014
A sales and service showcase
High Plains Equipment, a Case IH dealership in Devils Lake, N.D., constructs a larger facility to better serve its customers.
| Mar 26, 2014
Free transit for everyone! Then again, maybe not
An interesting experiment is taking place in Tallinn, the capital of Estonia, where, for the last year or so, its 430,000 residents have been able to ride the city’s transit lines practically for free. City officials hope to pump up ridership by 20%, cut carbon emissions, and give low-income Tallinnites greater access to job opportunities. But is it working?
| Mar 26, 2014
Callison launches sustainable design tool with 84 proven strategies
Hybrid ventilation, nighttime cooling, and fuel cell technology are among the dozens of sustainable design techniques profiled by Callison on its new website, Matrix.Callison.com.
| Mar 26, 2014
Zaha Hadid's glimmering 'cultural hub of Seoul' opens with fashion, flair [slideshow]
The new space, the Dongdaemun Design Plaza, is a blend of park and cultural spaces meant for the public to enjoy.
| Mar 26, 2014
First look: Lockheed Martin opens Advanced Materials and Thermal Sciences Center in Palo Alto
The facility will host advanced R&D in emerging technology areas like 3D printing, energetics, thermal sciences, and nanotechnology.
| Mar 25, 2014
Sydney breaks ground on its version of the High Line elevated park [slideshow]
The 500-meter-long park will feature bike paths, study pods, and outdoor workspaces.
Sponsored | | Mar 25, 2014
Johns Hopkins chooses SLENDERWALL for a critical medical facility reconstruction
After decades of wear, the hand-laid brick envelope of the Johns Hopkins nine-story Nelson/Harvey inpatient facility began failing. SLENDERWALL met the requirements for renovation.
| Mar 25, 2014
World's tallest towers: Adrian Smith, Gordon Gill discuss designing Burj Khalifa, Kingdom Tower
The design duo discusses the founding of Adrian Smith + Gordon Gill Architects and the design of the next world's tallest, Kingdom Tower, which will top the Burj Khalifa by as much as a kilometer.
