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Atkins buys US consultant PBSJ for £178m

2 Aug 10 Atkins is to acquire American consultant PBSJ for £178m.

Atkins is to acquire American consultant PBSJ for £178m.

PBSJ is one of America's leading providers of engineering, planning, architecture, construction, environmental and programme management services. It is employee-owned and based in Florida.

At 31 March 2010, PSBJ employed approximately 3,500 people and in the year to 30 September 2009 generated earnings of £30m on revenue of £508m.

Atkins said the acquisition would “balance its geographic presence� and “deepen the Group's technical skills in established sectors�.

Keith Clarke, chief executive of Atkins, 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.

“These are all important criteria for a successful acquisition which will provide us with a strong platform for growth and enable us to drive significant value for our shareholders."

Meanwhile, in an interim management statement for the period from 1 April 2010 to date, Atkins said it was “trading in the first quarter in line with our expectations�.

However, it added that its UK building design business “has been impacted by the cancellation of some projects under the Building Schools for the Future programme�.

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