Consultant expands to Europe and Latin America with 60% stake in project manager
Consultant Hill International has acquired a 60% stake in Spanish project manager Gerens Management Group.
The remaining 40% will be owned by Gerens’ managing director and a group of leading Spanish savings banks.
Headquartered in Madrid, the firm provides services on construction projects throughout Western Europe and Latin America.
Gerens has additional offices in Barcelona and Cancun in Mexico.
Irvin Richter, Hill’s chairman and chief executive officer, said: “Its management team has built one of the leading project management firms in Europe in less than a decade and we look forward to helping them continue their success.”
He said it is a “win-win situation” as Hill will also benefit from Gerens experience and privileged access to businesses across Europe and Latin America.
Gerens’ largest projects include the Ciudad Real Airport and the tallest skyscraper in Spain the Caja Madrid HQ.
Managing director and co-founder of Gerens José Manuel Albaladejo Gonzalez will maintain his current position as well as being named a senior vice President at Hill.
Hill co-founded Gerens in 1998 but divested its minority stake in the company in 2000.
Gerens plans to immediately change its name back to Gerens Hill International, S.A.
Terms of the transaction were not disclosed.