Jacobs Engineering to buy CH2M10 August 2017
International – Jacobs and CH2M have entered into an agreement that will see Jacobs acquire all outstanding CH2M shares for a total value of USD 3.27bn. This amount includes around USD 416M in CH2M debt.
In a statement on the benefits of the move, Jacobs Engineering hailed CH2M as the leading water design firm in the world as well as having a “preeminent brand for programme and project delivery in environmental remediation in the nuclear industry”. Tunnelling was not mentioned specifically in either case and the remainder of the statement discussed the financial benefits at length.
“We are delighted about the prospects of combining CH2M with Jacobs,” said CH2M Chairman and CEO Jacqueline Hinman. “Since late 2014, we’ve been transparent about our plans to pursue an ownership transition, providing sustained access to capital for growth. This was the unanimous choice of our Board, and the value Jacobs will provide to our stockholders, reflects genuine appreciation for our employees and the world-class work we deliver to our clients.”