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
| Dec 4, 2012
Wirtz Beverage Illinois’ corporate headquarters completed
WBI Center, a new state-of-the-art facility, is designed by Ware Malcomb.
| Dec 4, 2012
Wagner joins Ghafari as Manager of Structural Engineering
Wagner comes to Ghafari from Walter P Moore, where he served as a principal, chaired the construction administration task force and led the design of numerous projects ranging in size from $10 million to $70 million.
| Dec 4, 2012
City of Gainesville to break ground on $33 million bus fleet maintenance and ops facility
The 140,000-sf facility will include dispatch, administrative and maintenance facilities.
| Nov 28, 2012
Project team to showcase design for first mixed-use retail center of its kind in Mexico City
Project reaching construction milestone, offering national model for urban development in Mexico.
| Nov 28, 2012
Cummins announces ratings classification for data center power systems
The Data Center Continuous ratings span the range of Cummins Power Generation’s high horsepower diesel generator sets, from 1 MW up to 2.5 MW, and will apply to both 50 Hz and 60 Hz configurations.
| Nov 28, 2012
Francis Cauffman appoints Stainbrook Director of Higher Education
Stainbrook has 16 years of experience as a strategic planner and urban designer working on complex projects on- and off-campus.
| Nov 27, 2012
SFIA releases technical guide for cold-formed steel framing products
The 114-page book covers both structural and non-structural applications, including section properties of SFIA member product profiles, and complete load and span tables for most applications.
| Nov 21, 2012
Architecture Billings Index positive for third straight month
All regions reporting positive business conditions
| Nov 20, 2012
PC Construction completes Juniper Hall at Champlain College
Juniper Hall is on track for LEED Gold certification from the U.S. Green Building Council.
| Nov 14, 2012
U.S. Green Building Council partners with Pearson
Partnership will help further USGBC’s mission by advancing green building education
