Civil engineering group Arcadis is taking over US water management company Malcome Pirnie for $135m.
‘This is a major step for Arcadis which very well fits our strategic goals,’ said chairman Harry Noy in a statement. ‘Together with Malcolm Pirnie we are in the top 10 of consulting engineers in the international water market.’
Water is to become a separate business line within Arcadis because of the expected growth in this sector, Noy said.
The takeover will be completed in July and contribute immediately to earnings per share.
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