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
| Nov 16, 2011
Architecture Billings Index moves upward
The Architecture Billings Index climbed nearly three points in October.
| Nov 16, 2011
CRSI recommends return to inch-pound markings
The intention of this resolution is for all new rollings of reinforcing steel products to be marked with inch-pound bar markings no later than January 1st, 2014.
| Nov 16, 2011
John Patelski joins Ghafari as executive vice president
As executive vice president, Patelski will be responsible for expanding the firm’s services in new strategic markets.
| Nov 15, 2011
Struggling economy demands construction industry embrace enterprise-wide risk management
In today’s business environment of high supply and limited demand, it has become especially vital for organizations in the construction sector to effectively manage risk.
| Nov 15, 2011
Suffolk Construction breaks ground on the Victor housing development in Boston
Project team to manage construction of $92 million, 377,000 square-foot residential tower.
| Nov 15, 2011
Miller joins Perkins Eastman as regional manager, Middle East and Northern Africa
Miller joins Perkins Eastman with more than 48 years of experience in architecture, design management, and construction administration for planning and infrastructure.
| Nov 14, 2011
Summit Design+Build selected at GC for new Office Concepts headquarters
The new headquarters will include 17,000 sf of office space and 15,000 sf of warehouse and feature 24 ft ceilings, an open floor plan, two conference rooms and one training room and will feature sustainable finishes throughout.
| Nov 14, 2011
Griffin Electric completes electrical work at Cary Arts Center
The Griffin Electric team was responsible for replacing the previous electrical service on-site with a 1000A, 480/277V service and providing electrical feeds for a new fire pump chiller, six air-handlers and two elevators.
| Nov 14, 2011
303 East 33rd Street building achieves LEED-NC
The 165,000 sf 12-story residential building is the first green development to be LEED certified in the Murray Hill neighborhood of Manhattan.
