Atkins buys nuclear engineer for £206m

Atkins has bought a US-based global nuclear engineering services business for $318m (£206m).

The UK-listed engineer today announced it has acquired the projects, products and technology (PP&T) divisions of US firm EnergySolutions.

PP&T specialises in nuclear waste remediation projects and is 650-strong, with a presence in both Japan and China. In the 2014 calendar year PP&T reported revenue of $281.4m and adjusted operating profit of $30.7m.

Atkins said major investment in new build nuclear and ageing existing assets would present “significant opportunities” for the firm’s enlarged nuclear business.

Atkins chief executive Professor Dr Uwe Krueger said: “This acquisition accelerates our nuclear strategy and creates a global platform.  Our combined business is well positioned in all the major nuclear markets in North America, UK, Europe, Middle East and Asia Pacific.

“In the US, which has the largest nuclear fleet, we are at the top table for decommissioning, site operations, major projects and consultancy.”

The acquisition - which is subject to regulatory approvals in North America - is expected to complete in the first quarter of 2016.

The news comes as Mott MacDonald announced it had ended a major joint venture in North America, Hatch Mott MacDonald (HMM).

HMM is a 3,000 strong business with 77 offices across the United States and Canada. HMM Canada becomes part of Hatch, while HMM in the US will become part of Mott MacDonald.

Keith Howells and John Bianchini, the chief executives of Mott MacDonald and Hatch, said in a joint statement: “At a time of significant renewal in North American infrastructure this change allows Hatch and Mott MacDonald and the staff of HMM to build and invest in new ways.”