Amec buys US engineer Mactec in $280m deal
Amec has agreed to buy US engineering and environmental services company Mactec for US$280m (£172.8m).
Completion is subject to regulatory approval and is expected by the end of June 2011. Mactec is based in Georgia and has some 2,600, mostly technical, employees and 70 offices, which are mainly in the eastern part of the USA.
The company provides a similar wide range of services to Amec's existing Earth & Environmental (E&E) business, including environmental planning, assessment and remediation, infrastructure engineering, water resources and construction support services. It has a broad range of clients operating in the energy, commercial, industrial, transport, infrastructure and federal sectors.
“This acquisition is fully aligned with Amec's Vision 2015 growth strategy and provides Amec with the right scale to service this important and growing environmental and infrastructure engineering services market,” said Amec chief executive Samir Brikho.
“Mactec and E&E are highly complementary businesses, in terms of geographic footprint, customer base and service offering,” said Amec chief operating officer Neil Bruce. “The combination will provide great opportunities to grow our position with existing clients and attract new ones, through our proven life-of asset expertise and scale. The growth drivers in our markets are strong and we will now be better placed to take advantage of them.”
“We are very excited to add Mactec's technical capability, resources, and customer base to Amec's successful business,” said Mactec president and chief operating officer Ann Massey. “Together, we offer a strong, global platform of consulting, engineering, and project management expertise. The close alignment between our companies' cultures, services and expertise will provide immediate value to our customers and foster future growth.”
At 31 December 2010, Mactec's gross assets were US$283 million and its earnings before interest and tax in 2010 were US$32 million. The business will be integrated into Amec during 2011.
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This article was published on 19/05/2011 (last updated on 19/05/2011).