A planning and infrastructure specialist with 2,500 staff in Australia and New Zealand is being bought by construction giant Balfour Beatty.
Parsons Brinckerhoff (PB), an employee-owned, strategic consulting, planning and construction management firm, is likely to be bought by the London-based infrastructure firm for AU $720 million.
If the acquisition goes ahead, PB will operate as an independent, but wholly owned subsidiary of Balfour Beatty.
Australia-Pacific managing director of Parsons Brinckerhoff, Dr Jim Mantle, said management is enthusiastic about the proposed acquisition.
“In the Australia-Pacific context, it is not Balfour Beatty’s plan to be a general contractor in the region; however, we gain a strategic partner that complements our services,” Mantle said.
PB will continue to serve its clients in the “broadest array of professional services”, as well as continuing to work with existing contractor partners, he said.
“This is a positive move for PB — we will retain our operations in the region, along with our name, organisational structure and culture,” Mantle said.
The move will assist PB in its global expansion, he said.
The agreement is subject to approval of the shareholders of each company.
