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 CH2M Hill's global footprint and engineering strength, and improve cash flow lines for privately-held Halcrow as it struggles in some markets. The deal must be approved by Halcrow shareholders and the U.K.'s high court, says the propective parent.