The shareholders of global engineering firm CH2M voted in favor moving forward with the firm’s $3.27 billion acquisition by engineering and professional services provider Jacobs Engineering Group Inc., completing the cash-and-stock transaction, the companies announced in a press release Monday.
“This is a transformative step-change that brings together the industry’s foremost expertise and services to fulfill our vision to provide leading-edge solutions for a more connected, sustainable world,” said Jacobs’ chairman and chief executive officer, Steve Demetriou, in a statement.
Jacobs said the purchase of CH2M will expand its position in government, infrastructure, and industrial professional services and grow the number of services available to its customers.
As part of the transaction, Jacobs will begin reporting results according to three business lines by the second part of fiscal year 2018, centering on Aerospace, Technology, Environmental and Nuclear (ATEN), Buildings, Infrastructure, and Advanced Facilities (BIAF), and Energy, Chemicals and Resources (ECR).
“We are applying lessons learned from past integration experiences and adopting best practices for critical factors, such as talent retention, and building on the excellent cultural foundations of both organizations,” said Demetriou. “We are well positioned to capitalize on the differentiated value proposition created by this combination, and our continued efforts to drive incremental focus and accountability will be supported by a simplification of our operating model.”
Former CH2M director Barry Williams was named as the new director of Jacobs. He formerly served in leadership positions with PG&E, Northwestern Mutual bonds, Simpson, and Pacific Ventures Inc.