Weekly merger, acquisition, deal update: May 25
This week Morrissey Goodale tracked two domestic deals and one international deal. This most recent activity brings the total year-to-date deal count in the United States to 60, down 15% from the 71 domestic deals tracked through the same period in 2011. Beyond the U.S., the total global deal count is now 114, down 20% from the 143 global deals tracked through the same period last year.
This week Morrissey Goodale tracked two domestic deals and one international deal. This most recent activity brings the total year-to-date deal count in the United States to 60, down 15% from the 71 domestic deals tracked through the same period in 2011. Beyond the U.S., the total global deal count is now 114, down 20% from the 143 global deals tracked through the same period last year. Be sure to click here for Morrissey Goodale's 2012 First Quarter Review of industry M&A activity.
Multi-discipline engineering firm KJWW Engineering Consultants (Rock Island, IL) acquired 25-person MEP engineering consulting firm Moore Engineers (Carmel, IN). Moving forward the firm will do business as Moore / KJWW Engineering Consultants. Link to details
Multi-discipline engineering and program management services firm POWER Engineers (Hailey, ID) acquired MacMillan & Donnelly (Freeport, ME), a firm specializing in the provision of air quality and environmental consulting services to the industrial and facilities, power generation, power delivery, health care, academia, government and transportation sectors. Link to details
International architecture and interiors design firm Perkins+Will (Chicago, IL) announced it is in discussions to merge with 90-person architecture and design firm Pringle Brandon (London, United Kingdom). The deal is expected to be signed in the coming weeks. Link to details
In a noteworthy initiative (though not yet considered a deal for the purposes of this update), international engineering and project management firm AMEC (London, United Kingdom) announced it is in discussions with international services company Serco Group (Hampshire, United Kingdom) regarding the potential acquisition of Serco's nuclear Technical Consulting Services (TCS) business. Serco's TCS provides consulting and project solutions to the UK civil and defense nuclear markets and features annual revenue of approximately $90 million. There is no certainty that a transaction will proceed. If appropriate, a further announcement will be made in due course. Link to details
In a noteworthy initiative (though not considered a deal for the purposes of this update), 58-person environmental engineering firm Ascot Environmental (Radcliffe, United Kingdom) filed for administration and is being wound down. The firm specialized in providing sub-contracting services to the waste management and construction industries and featured revenues in excess of $88 million and a staff of more than 200 at its peak in 2009. Link to details
In a noteworthy initiative (though not considered a deal for the purposes of this update), multi-discipline engineering firm Pate Engineers (Houston, TX) changed its name to IDS Engineering Group after the firm's employees completed a buyout of the firm's founder, Gerry Pate. Link to details
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Annual Salary Survey
After almost a decade of uncertainty, the confidence of plant floor managers is soaring. Even with a number of challenges and while implementing new technologies, there is a renewed sense of optimism among plant managers about their business and their future.
The respondents to the 2014 Plant Engineering Salary Survey come from throughout the U.S. and serve a variety of industries, but they are uniform in their optimism about manufacturing. This year’s survey found 79% consider manufacturing a secure career. That’s up from 75% in 2013 and significantly higher than the 63% figure when Plant Engineering first started asking that question a decade ago.