Energy undertaking engineering agency Jacobs has acquired a controlling stake in PA Consulting, a deal which is able to information Jacobs in navigating the vitality transition to decarbonization.
Dallas-based Jacobs has taken a 65-percent stake in PA Consulting, which places the consulting agency’s enterprise worth at about $2.5 billion. The remaining 35 p.c is held by PA workers.
“This strategic partnership accelerates our technique to develop into a frontrunner in bringing better innovation and creativity to reply to current-day challenges corresponding to local weather change, cyber, urbanization and the continuing healthcare disaster,” mentioned Jacobs Chair and CEO Steve Demetriou. “PA has delivered robust progress during the last 5 years and collectively our organizations will set a brand new trade benchmark in differentiated options that ship superior end-to-end worth for Jacobs and PA purchasers, workers and buyers.”
Jacobs gives providers on technical, engineering and building phases in infrastructure tasks worldwide.The PA Consulting deal follows different acquisitions in recent times, together with Wood Nuclear in March 2020.
PA Consulting was based in 1943 and presents technical consulting and advisory providers. The firm additionally guides an annual ReliabilityOne awards occasion honoring utilities with excessive rankings for retaining electrical service dependable and aware of outage challenges.
The publish Jacobs buying 65% stake in PA Consulting for $1.8B appeared first on Power Engineering.