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
MFPRO+ New Projects | May 29, 2024
Two San Francisco multifamily high rises install onsite water recycling systems
Two high-rise apartment buildings in San Francisco have installed onsite water recycling systems that will reuse a total of 3.9 million gallons of wastewater annually. The recycled water will be used for toilet flushing, cooling towers, and landscape irrigation to significantly reduce water usage in both buildings.
Healthcare Facilities | May 28, 2024
Healthcare design: How to improve the parking experience for patients and families
Parking is likely a patient’s—and their families—first and last touch with a healthcare facility. As such, the arrival and departure parking experience can have a profound impact on their experience with the healthcare facility, writes Beth Bryan, PE, PTOE, PTP, STP2, Principal, Project Manager, Walter P Moore.
Urban Planning | May 28, 2024
‘Flowing’ design emphasizes interaction at Bellevue, Wash., development
The three-tower 1,030,000-sf office and retail development designed by Graphite Design Group in collaboration with Compton Design Office for Vulcan Real Estate is attracting some of the world’s largest names in tech and hospitality.
MFPRO+ News | May 28, 2024
ENERGY STAR NextGen Certification for New Homes and Apartments launched
The U.S. Environmental Protection Agency recently launched ENERGY STAR NextGen Certified Homes and Apartments, a voluntary certification program for new residential buildings. The program will increase national energy and emissions savings by accelerating the building industry’s adoption of advanced, energy-efficient technologies, according to an EPA news release.
Women in Design+Construction | May 28, 2024
Commerce Department launches Million Women in Construction Community Pledge
The U.S. Department of Commerce launched its Million Women in Construction Community Pledge this month to boost the ranks of women in construction companies. Federal investments are creating a construction boom that is increasing job opportunities for construction and trade workers.
Laboratories | May 24, 2024
The Department of Energy breaks ground on the Princeton Plasma Innovation Center
In Princeton, N.J., the U.S. Department of Energy’s Princeton Plasma Physics Laboratory (PPPL) has broken ground on the Princeton Plasma Innovation Center (PPIC), a state-of-the-art office and laboratory building. Designed and constructed by SmithGroup, the $109.7 million facility will provide space for research supporting PPPL’s expanded mission into microelectronics, quantum sensors and devices, and sustainability sciences.
MFPRO+ News | May 24, 2024
Austin, Texas, outlaws windowless bedrooms
Austin, Texas will no longer allow developers to build windowless bedrooms. For at least two decades, the city had permitted developers to build thousands of windowless bedrooms.
Resiliency | May 24, 2024
As temperatures underground rise, so do risks to commercial buildings
Heat created by underground structures is increasing the risk of damage to buildings, recent studies have found. Basements, train tunnels, sewers, and other underground systems are making the ground around them warmer, which causes soil, sand, clay and silt to shift, settle, contract, and expand.
Sports and Recreational Facilities | May 23, 2024
The Cincinnati Open will undergo a campus-wide renovation ahead of the expanded 2025 tournament
One of the longest-running tennis tournaments in the country, the Cincinnati Open will add a 2,000-seat stadium, new courts and player center, and more greenspace to create a park-like atmosphere.
Mass Timber | May 22, 2024
3 mass timber architecture innovations
As mass timber construction evolves from the first decade of projects, we're finding an increasing variety of mass timber solutions. Here are three primary examples.