CH2M Hill to buyout Halcrow27 September 2011
CH2M Hill will take over Halcrow for GBP 124M (USD 192.8M). The agreement was announced yesterday and is expected to close in November, subject to the approval of Halcrow Shareholders and the UK High Court.
Halcrow CEO Peter Gammie said, “The board’s decision to approach CH2M HILL to discuss the sale of Halcrow is the culmination of a business relationship going back many years. We have worked together on many occasions and have become very much aware of each other’s strengths and working practices.”
CH2M Hill chairman and CEO said, “This acquisition is a game changer for our clients. Our global footprint will be deeper and our bench strength will be even more robust. By combining our resources and leveraging our collective technical know-how, we will set a new standard for the marketplace. Best of all, our two firms are ideally suited in terms of cultures, markets, geographies, and we have a shared long-term vision for the future.”
UK-based Halcrow was founded in 1868 and has specialised is engineering, planning, design and management services for infrastructure projects. US-based CH2M Hill gave its expertise as consulting, design, operations and program management.
A CH2M Hill spokesman added, “With the addition of Halcrow’s operations in Europe, the Middle East, Asia Pacific and South America, CH2M HILL will more than double its international presence to almost 30,000 employees globally including over 11,000 outside of the U.S.”