The RSK Group Limited confirmed that it is in late stages of agreeing the acquisition of Black & Veatch’s Water Europe and Water Asia businesses.
The RSK Group Limited (RSK), a UK-headquartered international environmental, engineering and technical services business, has confirmed that it is in late stages of agreeing the acquisition of Black & Veatch’s Water Europe and Water Asia businesses.
These include UK-based Black & Veatch Limited, Black & Veatch Hong Kong Limited and Black & Veatch (SEA) Pte Limited in Singapore.
The deal is expected to complete in early 2021 and includes all the employees, contracts, leases and other assets of these entities, reported the press release. These award-winning businesses will move forward, continuing to provide sustainable and resilient water, wastewater and flood resilience projects, with existing management and employees but under a new brand as Binnies.
The addition of Binnies will increase the overall RSK headcount from 4300 to 5500 employees worldwide. It will expand the number of countries in which RSK is present from 27 to 31 and significantly add to RSK’s existing Asian footprint. Operations in Hong Kong, mainland China, Singapore, the Philippines and Vietnam will be brought into the group, in addition to the Binnies’ offices throughout the UK.
Strengthening its presence in the water sector is a key strategic aim for RSK. The group also acquired the UK-based Water Research Centre (WRc) and its 350 employees last August and acquired Ireland-based water engineer Nicholas O’Dwyer and its 200 employees last March.
The businesses that will make up Binnies are expected to add £160 million to RSK’s annual turnover, which has increased significantly in recent years from £147 million in 2018 to £287 million in 2020.