Weekly merger, acquisition, deal update: May 16

This week Morrissey Goodale reported one deal in the U.S. involving companies from Idaho and New Jersey as well as the potential sale of Parsons Brinckerhoff.

M&A Transactions

5/14/2014

Global consulting engineering firm Power Engineers (Hailey, ID) has entered into an agreement to acquire Burns and Roe Enterprises (BRE) (Oradell, NJ), the power and energy engineering services subsidiary of Burns and Roe Group (BRG). Burns and Roe Services Corporation (BRSC), the operations and maintenance subsidiary of BRG, was not included in the transaction. The combined organization will focus on providing power and energy engineering services including fossil, nuclear and renewable technologies. Link to details

5/6/2014

In an interesting development (though not considered a deal for the purposes of this update), Balfour Beatty is considering a sale of Parsons Brinckerhoff only five years after acquiring them for the equivalent of $626 million, according to a recent article in ENR. Additionally, Balfour Beatty CEO Andrew McNaughton announced he is leaving the firm after taking on the CEO role in January 2013. According to the company, Steve Marshall will run the firm until a successor to McNaughton is found. Link to details

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