Mon, 21 Dec 2020 | BUSINESS SALE
Acquisitive consultancy group RSK has expanded further with the acquisition of Black & Veatch’s water business in the UK and Asia. The acquisition, which is expected to complete early next year, includes all of the company’s 1,200 employees and contracts, as well as 13 office locations in the UK, mainland China, Hong Kong, the Phillippines, Singapore and Vietnam.
Following the acquisition of its Water Europe and Water Asia businesses, Black & Veatch will be rebranded as Binnies. The business will add £160 million to the group’s annual turnover. It expands the number of countries in which it has a presence from 21 to 31 and takes its overall group headcount from 4,300 to 5,500 worldwide.
The acquisition represents the seventh of the year for RSK and its 39th since 2016. Acquisitions form a core part of RSK Group’s ambition to become Europe’s largest privately-owned environmental and engineering business, with annual turnover of £1 billion, by 2025. Its turnover has increased from £147 million in 2018 to £287 million this year.
One of its key strategic aims is to expand its presence in the water sector. Prior to Black & Veatch, it acquired Water Research Centre (WRc) in August and water engineer firm Nicholas O’Dwyer in March.
RSK CEO and founder Alan Ryder commented: “This acquisition marks the most significant growth in our 31-year history, positions RSK as a market leader in the water sector and provides a springboard for RSK into the East Asian markets.”
“The addition of Binnies to the group will greatly enhance RSK’s ability to address climate change, green growth and water and sanitation services at a global level through applied engineering excellence.”
“Binnies brings incredibly valuable specialist expertise in all areas of the water utility sector; flood and coastal defence planning and design; specialist environmental services; digital and data services; construction management and commissioning; and operations, thereby bringing a true end-to-end client service offering.”
Scott Aitken, managing director of Binnies Europe, said: "The environment we live in is facing considerable challenges, so our clients are seeking sustainable, resilient and affordable solutions to meet these challenges.
"Our water environment is a very precious resource. I am delighted with the acquisition by RSK of what will become the new Binnies business, an RSK-owned company, and how, with the combination of technical excellence, leading digital technology capability and end-to-end service offering, we will be at the forefront of assisting our clients solve these complex challenges efficiently and effectively."
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