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UK: Atkins boss hints at merger

 |  February 8, 2017

British engineering and design consultancy WS Atkins is examining potential acquisitions, its chief executive said, but he declined to say if it had been approached by US rival CH2M over a $4 billion merger.

Dealmaking in engineering and construction has picked up in recent years, including a failed attempt by Britain’s Carillion to merge with Balfour Beatty.

Atkins has been trying to diversify away from its home market, which accounts for over half of its revenue, and the US is looking attractive for infrastructure spending.

“We see very interesting signs that what was regarded as pre-election rhetoric is now really coming together quite nicely,” CEO Uwe Krueger said after a trading update.

Atkins, which worked on London’s 2012 Olympic site as well as a renovation of New York’s Statue of Liberty, was seeking deals in the United States, Middle East and Asia Pacific as well as to grow its energy business, Krueger added on Wednesday.

“At any point in time we’re looking at quite a number of acquisition opportunities… Whatever makes sense from a commercial and strategic perspective, we will be looking at it whether it’s small, medium-sized or large,” he told Reuters.

Full Content: Reuters

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