Arcadis acquires major U.S. environmental company
International consulting and engineering company picks up Blasland, Bouck & Lee Inc. (BBL), a Syracuse, N.Y.-based company with 42 offices across the United States and gross revenues of $170 million. It also appoints a new Denver area manager...
ARNHEM, The Netherlands, Sept. 30, 2005 (BUSINESS WIRE) -- Arcadis, an international consulting and engineering company, announced today that it has acquired Blasland, Bouck & Lee Inc. (BBL), a Syracuse, N.Y.-based company with 42 offices across the United States.
BBL is a leading provider of environmental and remediation services. The company has over 900 employees and estimated 2005 gross revenues of $170 million and net revenues of $110 million. Normalized operating margins are in excess of Arcadis' margins. The transaction is expected to be immediately accretive to earnings per share. Further financial details were not disclosed.
BBL provides environmental services, including earth sciences, life sciences, economic consulting, engineering and related construction management and field services to protect, clean, and restore the environment. The company serves a premier client list including a considerable number of Fortune 100 multinational companies, as well as selected non-regulatory government entities. With some 80% of revenues being derived from the industrial sector, BBL significantly expands Arcadis' already strong industrial client base.
Commenting on the acquisition, Arcadis CEO Harrie Noy said: "BBL brings to us a milestone opportunity in the positioning and growth of ARCADIS, fully in line with our strategic ambitions. Combined we become one of the top 5 providers in the environmental market and a clear leader in providing environmental services to industrial clients. BBL also brings a highly-successful client focused business model that will form the basis for serving Arcadis' industrial clients both in the U.S. and on a global scale."
Robert Goldman, CEO of BBL added: "We have been very successful developing our industrial environmental business in the U.S. market, but our clients are asking us to serve them more broadly at the international level. Arcadis provides numerous growth opportunities for BBL, including the international platform that allows us to further serve our clients globally. This opens new perspectives for our staff."
Arcadis (www.arcadis-global.com or www.arcadis-us.com) is a global network of business professionals providing services in infrastructure, environment and facilities, to enhance mobility, sustainability and quality of life. It develops, designs, implements, maintains and operates projects for companies and governments. With over 9,000 employees and $1 billion in gross revenue, the company has an extensive international network that is supported by strong local market positions.
In other recent company news: "Arcadis appoints new Denver area manager"