Buyout of BE&K Gives KBR New Construction ‘Presence’
KBR is acquiring BE&K for $550 million in cash, ending 35 years of private ownership for BE&K, one of the most prominent open-shop employers in the industry, and giving KBR a big presence in industrial construction again.
KBR, also an open-shop employer, is a much bigger company with 50,000 employees and 2007 revenue of $8.7 billion. It was spun off from Halliburton, the oil and gas services giant, in April, 2007 and KBR shares are traded on the New York Stock Exchange. The company has had about $900 million in cash.