Consultant buys US business with 3,500 staff and £518m turnover
WS Atkins has completed the acquisition of Florida-based consultant PBSJ Corporation. At a special meeting of the stockholders of PBSJ, 99% of votes cast were in favour of the deal.
Keith Clarke, chief executive, said: “This is an important acquisition for Atkins, which forms part of our plan to grow our business through a multi-skill, multi-local strategy.
“The completion of this acquisition means that we now have an experienced management team and a US business which has a strong, long-standing reputation for technical excellence and quality, underpinned by deep client relationships. This gives Atkins a strong platform for growth in the US which will enable us to drive significant value for our shareholders.
Atkins has acquired the entire issued share capital of PBSJ for a cash consideration of around £178m. PBSJ employs about 3,500 people and turned over £518m last year.
The deal should boost Atkins’ North American turnover from about £69m to £587m