US-based Jacobs Engineering Group has completed its merger transaction with Australian firm Sinclair Knight Merz (SKM), in accord with previously announced terms.
Jacobs purchased SKM for approximately AUS$1.3 billion in cash. The purchase price reflects an enterprise value of AUS$1.2 billion plus adjustments for cash, debt and other items.
Founded in 1964, SKM is an employee-owned company with broad consulting, planning, engineering, architecture, scientific, and construction management capabilities. The company has significant operations in Australia, Asia, South America, and the U.K., and serves clients in multiple industries, including mining and metals, building and infrastructure, water and environment, and power and energy. SKM’s 2013 revenue was approximately AUS$1.3 billion.
In making the announcement, Jacobs President and CEO Craig Martin stated, “The combination of Jacobs and SKM further diversifies our geographic offerings and the end-markets we serve. We look forward to integrating the two companies and see many excellent opportunities ahead to support our clients, develop our people, and grow our business.”
SKM CEO and Managing Director Santo Rizzuto added, “We are very enthusiastic about our future with Jacobs. Being one integrated company increases opportunities for our employees to build their careers in a range of disciplines around the world. We have significantly expanded our geographies and capabilities. The benefits we can deliver now that our companies are joined allow us to serve our clients better and in more places.”