LONDON, September 4, 2014 /PRNewswire/ --
- WSP increases its global and UK presence with the acquisition of Parsons Brinckerhoff
On Wednesday (3rd September) Balfour Beatty agreed to sell their professional services division Parsons Brinckerhoff to WSP Global for £820 million.
The deal now makes WSP one of the world's largest professional services firms, substantially increasing their presence across global emerging markets in Asia and Australasia alongside opportunities in the UK market, where Parsons Brinckerhoff is well-established.
With WSP already boasting a strong UK pipeline, Parsons Brinckerhoff adds more solid future projects to the WSP books including an £800m Trafford power project and the development of a £500m gas turbine power station in Kent. To date there are 50 future construction projects which involve Parsons Brinkerhoff in the UK, with the total value of projects exceeding over £4 billion.
Commenting on the acquisition, Michael Dall, Lead Economist at Barbour ABI stated, "Parsons Brinckerhoff look to be in an enviable position with an abundance of future construction projects in the pipeline. WSP however may well have been enticed by Parsons Brinckerhoff's current involvement in the HS2 phase one development. Given that the total value of HS2 phase one is in excess of £17bn it is likely that this was an additional factor when WSP were making their decision."
About Barbour ABI:
Barbour ABI is a leading provider of construction intelligence services. With a team of in-house research specialists and a dedicated lead economist, it provides commercially relevant insight and unique analysis of trends and developments within the building and construction industry.
Barbour ABI is the provider of the country's Construction New Orders data on behalf of the Office of National Statistics and is responsible for the UK Government's Construction and Infrastructure Pipeline, outlining future construction and infrastructure projects where public funding is agreed. Barbour ABI also provides data for independent organisations, such as the Construction Products Association.
Barbour ABI is part of global events-led marketing services and communications company UBM, and is headquartered in Cheshire Oaks, Cheshire.
UBM helps businesses do business, bringing the world's buyers and sellers together at events and online, as well as producing and distributing news and specialist content. Its 5,500 staff in more than 30 countries are organised into expert teams which serve commercial and professional communities, helping them to do business and their markets to work effectively and efficiently.
Notes to editors:
Press enquiries to:
Jonathan Touhey at Barbour ABI
SOURCE Barbour ABI