LONDON (Thomson Financial) - Balfour Beatty Plc. said its U.S. professional
and technical services arm, Heery International, has acquired California
construction management company Douglas E Barnhart Inc. for $116 million cash.
The engineering and construction group said the acquisition substantially
enhances its presence in education and in California.
The company said Barnhart's executive management team, including the
president, the director of operations and the director of business development,
have all agreed to continue in their current roles.
In the year to Sept. 30 2007, Barnhart had gross revenues of $530 million
and operating profits of $17 million, with gross assets of $197 million. It has
a confirmed order book of about $1.1 billion gross, the company said.
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