Arcadis, the Dutch-based international consultancy, has bought the Asia-focused QS and project management consultancy, Davis Langdon & Seah.
DLS, formerly the Asia subsidiary of Davis Langdon, will bring turnover in excess of $125 million (£78.6 million) into the Arcadis fold.
The deal is the latest piece in a process of consolidation which saw Aecom purchase the core Davis Langdon business in August 2010, and EC Harris swallowed up by Arcadis in November last year.
This latest deal effectively ends the unnofficial partnership which had existed between Davis Langdon parent Aecom, and DLS.
The DLS 2,800-man business was owned by 15 international partners and 42 local partners who scooped a total of 2.2 million Arcadis shares as well as an undisclosed cash total.
The shares have lock-up periods of 12 to 36 months after closing.
DLS clients are primarily local and international property developers, government agencies, public utilities, financial institutions and leading international corporations in the hotel and resort, technology, petroleum and communications sectors.
The DLS leadership team will remain in place, with Mr. Joseph Lee as Chief Executive Officer, who will also join the Arcadis Senior Management Committee. The other partners will continue as Regional and Country Directors.
Arcadis ceo Harrie Noy said: “This merger meets our long-standing strategic ambition of expanding our presence in Asia and brings an excellent and well-known brand with substantial experience in the region. We now have an established and highly successful platform for further expansion of our business in Asia. The strong urbanization and social infrastructure development in this part of the world are major drivers for growing demand for services in all our business lines.”
Joseph Lee, DLS ceo added: “This opportunity is unique as ARCADIS brings us additional capabilities and experience, which allows us to further expand our business by diversifying our service offering. This will benefit our clients, as well as our staff. In addition, we obtain access to new multinational clients that seek to invest in the countries where we are well established. We are confident of the success of this merger because of our similar values, cooperative culture and our joint commitment to service excellence, staff development and financial performance.”