WSP buys Parsons Brinckerhoff for £820m

10/09/2014 | HIGHWAYS REPORTERS

Consultant WSP has bought Parsons Brinckerhoff from Balfour Beatty in a deal worth £820 million.

Recent negotiations over a proposed merger between Balfour Beatty and Carillion hit a stumbling block after Carillion insisted that any deal was dependent on Balfour keeping Parsons Brinkerhoff. However, Carillion eventually walked away and Balfour has now completed the sale of Parsons Brinkerhoff.

Steve Marshall, executive chairman of Balfour Beatty, said: “The Board believes that the sale price of £820 million delivers both a significant return on our original investment and a compelling level of value creation for shareholders - which remains the key focus of the Board.  The sale of Parsons Brinckerhoff follows the recent revaluation of our investments portfolio, which underlines the potential of this division to create value internally and across the Group. In the US, our core construction business is well positioned in a recovering market. In the UK we see the potential for margins to progressively recover to peer group levels. Our services business, meanwhile, is well placed to benefit from the growing investment in infrastructure. Together, these elements will provide a strong foundation for an incoming Group CEO to take the company forward."

Pierre Shoiry, president and chief executive officer of WSP, said: “We are pleased to be joining forces with a firm of Parsons Brinckerhoff's long-standing reputation and know-how as we expect this transaction to create an industry leader, with the ability to deliver more expertise and services to our client base across the world.”

Highways InProfile

latest magazine issue
Highways jobs

Flood Risk Engineering and Strategy Officer

£49,764 - £55,623
In line with our One Coventry Values, we want to ensure that our communities are represented across our workforce Coventry, West Midlands
Recruiter: Coventry City Council

Senior Integrated Transport Officer

£34,324 - £37,529
Are you an experienced transport planning professional ready to influence strategic policy and drive real change Matlock, Derbyshire
Recruiter: Derbyshire County Council

Street Cleansing Operative

£25,584.00 to £27,269.00, Grade 5
An opportunity exists in the Council’s Street Scene Services for a Street Cleansing Operative Wakefield, West Yorkshire
Recruiter: Wakefield Council

Highways Gully Operative

£25,584.00 to £27,269.00, Grade 5
Are you a hard-working looking for career in highway maintenance? Wakefield, West Yorkshire
Recruiter: Wakefield Council

Roadworker Trainee LGV Driver (3 Posts)

Grade 6 £25,183 - £25,638 per annum (Pay award pending)
We’re looking for Roadworker/trainee LGV drivers to be part of our team undertaking major highway, bridge and related construction and reconstruction Derbyshire
Recruiter: Derbyshire County Council

Highways Operative - WMF3003e

£27,711 - £28,624
We are looking to recruit Highways Operatives to our Highways Service. Kendal, Cumbria
Recruiter: Westmorland and Furness Council

Engineer

£44,430 - £51,663
This post is within the Highways Design and Delivery Team. London (Greater)
Recruiter: Tower Hamlets London Borough Council

Highways Policy and Procedures Officer - WMF3011e

£37,035 - £37,938
This is an exciting opportunity to support the Asset Manager in developing policies and procedures Cumbria / Various
Recruiter: Westmorland and Furness Council

Highway Maintenance Bridge Engineer

Band G, SCP 32 -37 (£41,511 - £46,731 per annum)
We have an exciting opportunity available within the Highways Service at Sandwell Council House based in Oldbury. Sandwell, West Midlands
Recruiter: Sandwell Metropolitan Borough Council

Civil Enforcement Officer - WMF3013e

£27,711 -£28,624
Are you seeking an active and challenging role, part of a friendly and welcoming team? Cumbria / Various
Recruiter: Westmorland and Furness Council

RCHW Site Operative - Dovercourt Recycling Centre

Up to £25081.00 per annum
RCHW Site Operative - Dovercourt Recycling CentreFixed Term, Full Time£25,081 per annumLocation
Recruiter: Essex County Council

Highways Maintenance Manager

£49,764 - £53,817 per annum
We are looking for an experienced co-ordinator to join the team as a Highways Maintenance Manager Skipton, North Yorkshire
Recruiter: North Yorkshire Council

Civil Enforcement Officer

£25,183 - £26,409
Are you looking for a role that allows you to earn whilst been outdoors across the district of North Yorkshire? Whitby, North Yorkshire
Recruiter: North Yorkshire Council

Civil Enforcement Officer

£25,183 - £26,409
Are you looking for a role that allows you to earn whilst been outdoors across the district of North Yorkshire? Northallerton, North Yorkshire
Recruiter: North Yorkshire Council

Senior Street Cleansing Technician (CDC)

Grade 6, £25,175 - £25,983 (Pay award pending) + 6% AIA
We are about to embark on an ambitious programme of change in our city centre Doncaster, South Yorkshire
Recruiter: City Of Doncaster Council

Highways Improvement Manager

£49,764 - £53,817 per annum
Would you like to be part of our friendly, supportive, Highways team? Scarborough, North Yorkshire
Recruiter: North Yorkshire Council

UGO Bus Driver

Up to £25081.00 per annum
UGO Bus DriverPermanent, Part TimeUp to £25,081 per annum (full time equivalent)Location
Recruiter: Essex County Council

Highways Officer

£33,366 - £37,035 per annum
We are seeking to recruit a Highways Officer based at our Highways Office in Whitby. Whitby, North Yorkshire
Recruiter: North Yorkshire Council

Project Engineer - Forward Programmes

Grade 11 £38,629 - £41,928 per annum (Pay Award Pending)
At Derbyshire, we have been on a journey to transform the way we deliver highway services Derbyshire
Recruiter: Derbyshire County Council

Head of Highways Operations

Salary
Somerset Council
Recruiter: Somerset Council
SUBSCRIBE NOW

Latest Video

Subscribe to Highways today to ensure you keep your finger on the pulse of everything happening in the UK road network throughout the year.

SUBSCRIBE NOW