In one of the largest acquisitions so far this year by a U.S. firm, Colorado-based CH2M Hill Cos. on Sept. 26 said that it has agreed to acquire U.K. global transportation engineer Halcrow Group Ltd. for $192 million in cash. The deal, which CH2M Hill says also includes the firm's outstanding debt and pension liability, could be valued at $356 million.The deal, set to close in November, would expand CH2M Hill's global footprint and engineering strength as well as improve cash flow for privately held Halcrow, which is struggling in some markets. Halcrow shareholders and the U.K.'s high court must
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.