Photo courtesy of Thames Water CH2M Hill and Halcrow are prime contractor and sub, respectively, on the multi-billion-dollar Thames Tideway combined sewer tunnelling project in London. In one of the largest acquisitions so far this year for a U.S. firm, Colorado-based CH2M Hill Cos., said Sept. 26 that it has agreed to acquire London-based global transportation engineer Halcrow Group Ltd. for about $192 million in cash. The deal, which the Englewood, Colo.-based firm says also includes the U.K. firm's outstanding debt and pension liability, could be valued at more than $356 million.The transaction, set to close in November, would expand
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.