Jacobs to sell energy, chemicals and resources business to WorleyParsons
Jacobs Engineering Group Inc. (Dallas) is selling its energy, chemicals and resources (ECR) segment to WorleyParsons Limited (Sydney, Australia) for $3.3 billion, consisting of $2.6 billion in cash and $700 million in WorleyParsons ordinary shares. The transaction value represents a multiple of more than 11.5 times trailing 12-month adjusted EBITDA. According to Reuters, the deal will double the size of the Australian engineering services firm and “comes as WorleyParsons emerges from a three-year downturn following the oil price crash, and positions it to tap growth in the refining and petrochemical sectors, with countries like India building massive new plants.” WorleyParsons said the deal would make it the world’s biggest provider of professional services in energy and resources. Jacobs announced that following the sale it would be focused solely on its two higher growth, higher margin lines of business: aerospace, technology, environmental and nuclear; and buildings, infrastructure and advanced facilities.
Albuquerque water authority allots cost of $600 million water and sewer system to developer
The Albuquerque Bernalillo County Water Utility Authority has informed developers of the proposed 13,700-acre Santolina planned community that new water capacity and infrastructure will be needed to provide water and sewer services, according to a recent article in the Albuquerque Journal. The estimated cost to the developer would be $600 million over the 50-year build-out of a water system, a reuse system, and a wastewater system. The Santolina development in southwestern Bernalillo County could see a population of 96,000 people when completed.
Malibu opens $60 million water treatment facility
The City of Malibu has opened its new Civic Center Water Treatment Facility. Using innovative technology, the facility will capture and treat up to 200,000 gallons of wastewater daily and convert the water for irrigation purposes, saving up to 70 million gallons of drinking water annually. The treatment plant uses multiple processes to produce clean, Title 22 recycled water, including particle filtration, centrifuges, ultra-fine filtration membranes, bio-digestion, and UV light to kill bacteria and viruses. The $60-million facility was made possible with assistance from the State Water Board. The City secured a $9 million grant, a 1% interest State Revolving Fund loan of $24.6 million, and a 1.7% interest State Revolving Fund Loan of $26.8 million.
Braun Intertec acquires W&M Environmental
Braun Intertec (Minneapolis, Minn.), a geotechnical-engineering and environmental consulting and testing firm, has acquired W&M Environmental Group LLC (Plano, Texas). The addition of W&M will enhance Braun Intertec’s environmental management and remediation services for energy, industrial, and development clients nationwide. The company brings environmental management, compliance, and permitting capabilities, among others, and adds more than 50 environmental consulting professionals. Founded in 1995, W&M has seven offices throughout Texas. Braun Intertec became 100% employee-owned in 2007 and has nearly 1,000 employees.
Hennessy Capital acquires NRC Group
Hennessy Capital Acquisition Corp. III announced the acquisition of NRC Group Holdings LLC from J.F. Lehman & Company. NRC is a global provider of environmental, compliance, and waste management services to the marine and rail transportation, general industrial, and energy markets. As part of the transaction, HCAC changed its name to NRC Group Holdings Corp., and the company expects to begin trading on the NYSE American exchange. Christian Swinbank, CEO, said: “Our new public listing will significantly enhance our ability to execute on the numerous exciting growth initiatives currently underway at NRC Group.”
Stantec to acquire Wood & Grieve of Australia
Global design firm Stantec (Edmonton, Canada) has signed a letter of intent to acquire Wood & Grieve Engineers (WGE, Perth, Australia), a 600-person consulting services company focused on buildings engineering. With nearly six decades operating in key regional markets, WGE’s projects have included engineering services for the $700 million Optus Stadium, which opened in Perth earlier this year. “Together, our teams will successfully support some of the largest, most critically important infrastructure projects in the region,” said Gord Johnston, Stantec president and chief executive officer.
U.S. and Chinese Think Tanks cooperate on green finance
The Paulson Institute’s Green Finance Center has signed a strategic cooperation agreement with Tsinghua Center for Finance and Development in China. Both organizations are committed to supporting a robust green finance market in China to facilitate the country’s transition to a low-carbon economy. They will collaborate on thought-leadership and influence policymaking, among other activities. Ma Jun, director of Tsinghua Center for Finance and Development, who is co-chair of the G20 Sustainable Finance Study Group, said “The G20 has successfully mainstreamed the concept of green finance among global leaders, and demand for green financial research and capacity building is now growing exponentially.”
Major UK flood defense scheme awarded to B&V and Galliford Try
Galliford Try (London), in joint venture with Black & Veatch (Overland Park, Kansas), has been awarded a £19.9 million contract by the UK Environment Agency to design and build an improved flood defense scheme at Burton-on-Trent in Staffordshire. The work involves the repair, replacement and raising of about 4 kilometers of flood defense embankments and walls to protect 4,500 homes and commercial and community buildings from the River Trent. “The award is the result of a new way of working based on a collaborative approach rather than competitive bidding which will add value and deliver long lasting benefits to the community,” said Ian Jones, managing director of Galliford Try’s environment business unit. In related news, a £17.8 million flood defense scheme built by the Galliford Try and Black & Veatch in Skipton, Yorkshire, was officially opened on October 11.
ACCIONA to build Australia’s first large-scale thermal waste-to-energy plant
The Spanish energy and infrastructure company ACCIONA is set to construct an innovative thermal waste to energy (WtE) plant in Western Australia, helping reduce landfill while producing renewable energy. The approximately $700 million project will be located near Perth. It will process up to 400,000 tonnes a year of waste and export an estimated 36MW of electricity to the grid – enough to power around 50,000 households. ACCIONA’s engineering, procurement and construction (EPC) contract with the project developer – a Macquarie Capital and Phoenix Energy joint venture – includes a 36-month construction period starting in October 2018. During the construction phase, more than 800 jobs will be created. The operation and maintenance phase will create around 60 permanent positions.
Hepaco acquires Trans Environmental
HEPACO LLC (Charlotte, N.C.), a provider of environmental and emergency response services, has acquired Trans Environmental (Loves Park, Ill.), an environmental remediation, industrial cleaning, and emergency response services company. Trans founders Matt Warneke and Jeff Lonas will continue to lead the company. HEPACO is majority-owned by Gryphon Investors, which purchased it in August 2016. HEPACO has 31 locations in more than 20 states in the Mid-Atlantic and Southeast United States.