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
| May 15, 2013
Center for Green Schools, Architecture for Humanity release new tool for green schools
The 70-page guide demystifies the processes of identifying building improvement opportunities and finance and implementation strategies.
| May 14, 2013
Paints and coatings: The latest trends in sustainability
When it comes to durability, a 50-year building design ideally should include 50-year coatings. Many building products consume substantial amounts of energy, water, and petrochemicals during manufacture, but they can make up for it in the operations phase. The same should be expected from architectural coatings.
| May 14, 2013
Advanced turbines generate 6X more energy than conventional models
US-based wind energy company SheerWind just unveiled the INVELOX – a tunnel-based wind turbine that can produce up to 600% more power than traditional wind turbines.
| May 14, 2013
Raymond Clark joins HOK’s Chicago Practice as Management Principal
HOK announced today that Raymond Clark, AIA, LEED AP, has joined its leadership team in Chicago as senior vice president and management principal.
| May 14, 2013
Easy net-zero energy buildings [infographic]
"Be a Zero Hero" infographic educates building industry professionals on ultra energy-efficient structural insulated panel construction
| May 9, 2013
10 high-efficiency plumbing fixtures
From a "no sweat" toilet to a deep-well lavatory, here's a round up of the latest high-efficiency plumbing fixtures.
| May 9, 2013
Post-tornado Greensburg, Kan., leads world in LEED-certified buildings per capita
Six years after a tornado virtually wiped out the town, Greensburg, Kan., is the world's leading community in LEED-certified buildings per capita.
| May 8, 2013
Preventable curtain wall failures - AIA/CES course
In many cases, curtain wall failures are caused by fairly simple errors that occur during the fabrication and installation process. This presentation will highlight common errors and when they typically occur.
| May 8, 2013
NBBJ appoints Tim Leberecht Chief Marketing Officer
NBBJ, a global architecture and design firm, today announced that it has appointed Tim Leberecht as its Chief Marketing Officer. Leberecht joins NBBJ from Frog Design where he led the marketing organization from 2006 to 2013 and helped transform the company into one of the world’s foremost design and innovation consultancies.
