RTKL Joins Arcadis
International consulting and engineering giant ARCADIS, Arnhem, The Netherlands, announced last week that it has acquired 100% of the shares of privately held, Baltimore-based RTKL Assocs. Inc.<br/>
International consulting and engineering giant Arcadis , Arnhem, The Netherlands, ARCADIS (EURONEXT: ARCAD), the international consulting and engineering company, RTKL Assocs. Inc.
With about 1050 professionals, RTKL provides architectural design, master planning and specialized engineering services from 6 offices across the United States (Baltimore, Washington, Chicago, Dallas, Los Angeles and Miami) and from offices in London, Madrid, Shanghai and Tokyo. The company had 2006 gross revenues of $195 million and net revenues of $142 million. Normalized operating margins fit within Arcadis' target for the facility segment. The transaction is expected to be immediately accretive to earnings per share. Further financial details were not disclosed.
Established in 1946, RTKL has experienced strong growth in the last five years, expanding the practice into new geographies and business lines, including technology-focused services. The company ranks among the top ten architectural design and planning firms in the world and has a well diversified international portfolio of award-winning work across the commercial, health, workplace and civic markets in some 50 countries. The company has been involved in many high profile projects including LA Live surrounding the Staples Center in Los Angeles, the Baltimore Waterfront Redevelopment and the Shanghai Science and Technology Museum in China. RTKL's master planning services provide an early entry into major urban development programs. The specialty services include design and engineering for high-security buildings and for public and private healthcare facilities as well as structural, mechanical and electrical engineering.
"The merger with RTKL is a milestone for Arcadis, as it adds high quality design and master planning services that provide distinguishing value to clients,"consulting and specialized engineering, separately or as an integrated package assuming overall responsibility for projects. Our strong positions in the infrastructure and environment sectors provide additional strength to an integrated offering, with the capability to deliver globally. Finally, RTKL's world class brand, based on consistent quality and high profile projects, will substantially enhance Arcadis reputation and visibility. We are proud that RTKL has joined Arcadis."
"This relationship fulfills a number of our key strategic goals," said David C. Hudson AIA, RTKL president and CEO. "It not only expands our presence in critical geographies, allowing us to attract world-class clients and world-class talent, but it gives us the resources to define the next generation of the global architecture and design practice."
Paul Jacob AIA, RTKL Chairman added: "As large-scale development becomes more complex and more reliant on multi-disciplinary and sustainable approaches, this partnership merges our expertise in the built environment with Arcadis' expertise in front-end environmental services, infrastructure and program management. Our clients seek comprehensive, holistic solutions that demand vision, talent and the latest technology. Now, as part of the Arcadis network, we offer one of the deepest pools of professional services in the world."