Weekly merger, acquisition, deal update: May 18
This week Morrissey Goodale tracked three domestic deals and two international deals. This most recent activity brings the total year-to-date deal count in the United States to 58, down 15% from the 68 domestic deals tracked through the same period in 2011.
This week Morrissey Goodale tracked three domestic deals and two international deals. This most recent activity brings the total year-to-date deal count in the United States to 58, down 15% from the 68 domestic deals tracked through the same period in 2011. Beyond the U.S., the total global deal count is now 111, down 19% from the 137 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 and land surveying firm KC Engineering (New York, NY) merged with Eustance & Horowitz (E&H) (Circleville, NY), a consulting engineering and surveying firm specializing in water and sewer work in the tri-state area. The merger is expected to be complete by the end of May. Link to details
International professional services firm Versar (Springfield, VA) reached an agreement to acquire Charron Construction Consulting (Dulles, VA), a national construction management firm providing agency construction management and LEED/sustainability consulting services in the office, retail, industrial, civic and government facilities sectors. The transaction is expected to close within 30 days. Link to details
Engineering, environmental and consulting services firm Wenck Associates (Maple Plain, MN) acquired Emergency Planning & Incident Consultants (EPIC Group) (Bismark, ND), a provider of emergency preparedness consulting to a wide variety of national, regional, state and local emergency service, government, and private sector entities. Link to details
International engineering and construction company M+W Group (Stuttgart, Germany) signed a contract to acquire Reliable Plant Solutions (RPS) (Schkeuditz, Germany), a 60-person engineering company involved in the design and construction of power plants fired by both conventional and renewable fuels and located in Europe, Asia and the Middle East. The transaction is subject to approval by Germany's Federal Cartel Office. Link to details
Engineering, procurement and construction company China CAMC Engineering (CAMCE) (Beijing, China) acquired 60% of the stock of Procon Holdings (Vancouver, British Columbia, Canada), a contract mining and tunnel engineering services firm to the mining and water conservancy sectors. The acquisition is part of CAMCE's efforts to expand into the North American engineering market. Link to details
In an interesting initiative (though not considered a deal for the purposes of this update) multi-discipline engineering, surveying and environmental services firm Provost & Pritchard Consulting Group (Fresno, CA) picked up a lease on an engineering office in Los Banos, CA, after global architecture and engineering design firm AECOM Technology Corporation (Los Angeles, CA) decided to not renew it. Provost & Pritchard also hired the five engineering and support staff members that worked from that office and is looking to enhance its ability to serve their water and public works clients in the San Joaquin Valley through the initiative. Link to details
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey