WorleyParsons, the Australia-based engineering and construction management firm, has announced a deal to acquire CNEC Engenharia, the engineering and project management arm of Brazil’s Camargo Correa, for $98 million. WorleyParsons is ranked fifth on ENR’s list of the Top 150 Global Design Firms and second on ENR’s list of the Top 20 non-U.S. firms in international construction management/program management fees. CNEC Engenharia brings experience in hydropower, thermoelectric plants, and oil and gas refining. CNEC Engenharia, with 700 employees, has offices in Brazil, Argentina and Peru. WorleyParsons has 28,800 employees, with offices in 37 countries. It serves clients in the energy,
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.