Balfour Beatty to aquire Parsons Brinckerhoff
Published: 17 September, 2009
LONDON: Balfour Beatty is set to aquire Parsons Brinckerhoff for US$626m (c.£380 million).
Parsons Brinckerhoff is an employee-owned, US-based international professional services firm focused on infrastructure.
The Board believes the acquisition will accomplish a number of Balfour Beatty’s objectives by: establishing a global professional services business of scale, with over 14 000 employees; creating a leading position in US civil infrastructure, particularly in the transportation sector; enhancing its global reach, as well as strengthening its position in existing geographical markets and the power sector.
Commenting on the acquisition today, Balfour Beatty chief executive, Ian Tyler, said: "The acquisition of Parsons Brinckerhoff represents the realisation of a number of key strategic objectives for Balfour Beatty. In particular, we believe it makes us one of the world’s major players in professional services, substantially strengthens our US presence and puts Balfour Beatty in an excellent position to take advantage of increased infrastructure spending. It is a key step in becoming a global integrated leader in infrastructure services."