Black & Veatch Acquires MJ Gleeson's Water Business
Black & Veatch announced the completion of the acquisition of MJ Gleeson's water business. The UK-based MJ Gleeson has annual water business revenues of nearly $380 million (200 million GBP), and the transaction more than doubles the size of Black & Veatch's existing UK water operations, bringing added project delivery capabilities to clients.
"With these additional construction capabilities, Black & Veatch will now be a single-source provider of engineering design, process engineering and construction for UK water clients," said Dan McCarthy, president and CEO of Black & Veatch's global water business. "This is a new business model for the UK water industry that allows us to extend to all UK water clients our offer of a truly integrated, multi-disciplinary global workforce."
With the addition of more than 900 new professionals, Black & Veatch now has nearly 2,000 professionals in its UK workforce to provide client services to the UK water business sector. Also, Black & Veatch's total employment has increased to approximately 8,500 professionals across its global business lines.
McCarthy added that the approach continues Black & Veatch's tradition of innovation and leadership and that the company plans to apply this new model to benefit clients elsewhere in the world.
Black & Veatch is committed to a rigorous growth program in its core business lines of energy and water; the completion of this agreement allows Black & Veatch's global water business to move to nearly $1 billion (530 million GBP) in revenue, McCarthy said.
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