US giant describes Halcrow as a 鈥榩erfect fit鈥� after 拢230m purchase announced this week

Infrastructure and engineering giant CH2M Hill has admitted it is on the lookout for fresh acquisitions following its dramatic takeover of Halcrow this week, set to be worth a total of 拢230m.

Speaking to 黑洞社区 in the wake of the announcement, Jacqueline Rast - who will head up the newly merged firm鈥檚 operations outside of the United States from London - said Halcrow and its 6,000 employees had been the Denver-based CH2M Hill鈥檚 鈥渢op choice鈥�.

She added that the firm, which is now 29,000-strong with more than 300 offices around the world, wanted to grow even larger.

鈥淲e do have a strategy of both organic and acquisitive growth,鈥� said Rast, who is currently president of CH2M Hill鈥檚 facilities and infrastructure division. 鈥淚n our key markets, we want to add resources if we could find like-minded organisations.

鈥淲e may choose to add certain skill sets in certain geographies but [at present] we want to focus on this deal.鈥�

Rast claimed that the two firms, which have worked together on projects for about a decade, were a 鈥減erfect fit鈥� and said Halcrow would enhance the company鈥檚 skills in its key markets of water, transport, facilities, environment and energy.

鈥淗alcrow in particular will strengthen our transport expertise in the United States,鈥� she added.

Negotiations between the two firms began in the summer and Rast said detailed discussions will be needed to decide upon a name for the new organisation.

鈥淗alcrow has an incredible legacy and a strong brand and so does CH. We are going to appoint a team to look at the branding of both organisations [鈥 but in the immediate future will keep both names.鈥�

Halcrow鈥檚 chief executive Peter Gammie, who plans to retire when the deal goes through, said he did not expect redundancies because there was 鈥渧ery little overlap鈥� between the two firms.

Under the deal CH2M Hill will acquire the share capital of Halcrow for 拢124m with debts and pension liabilities taking the full payment to about 拢230m.

Just over a quarter of Halcrow shares are owned by 1,100 employees with the remaining 74% owned by the Halcrow Trust.

The deal is expected to be completed in November.

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