Atkins has bought the Florida based environment, engineering and construction consultancy, PBSJ, in a deal worth £178m.
According to Atkins, PBSJ is employee owned and one of America’s leading providers of engineering, planning, architecture, construction, environmental and programme management services.
As at 31 March 2010 it employed approximately 3,500 people and in the year to 30 September 2009 generated EBITDA of US$47 million on gross revenue of US$799 million.
Panmure Gordon construction analyst, Andy Brown said of the deal: “The US market had been a gap for the group and acquiring PBSJ appears to make a sizeable in-road to a large market opportunity.”
He added that he expected the move to boost profits going forward.
Atkins chief executive Keith Clarke said: “This is an important acquisition for Atkins and forms part of our plan to grow our business through a multi-skill, multi-local strategy. PBSJ operates a business model we understand and complements our business superbly, enhancing our skills in environmental, transportation, building design and programme management disciplines.”
“PBSJ has an experienced management team and a strong, long-standing reputation for technical excellence and quality, which underpins its deep client relationships.”
Atkins also released a trading update and said it was currently trading in line with expectations.