Parsons Corp. has agreed to acquire a transportation engineering services provider through an all-cash transaction valued at $230 million as part of a push to expand both overall infrastructure offerings and its presence across the Southeastern U.S.
BCC Engineering is a full-service engineering firm that provides planning, design, and management services for transportation, civil and structural engineering projects in four states and Puerto Rico.
Miami-headquartered BCC and its 385 employees will become a part of Parsons’ North America Infrastructure business unit after the transaction closes within the next 30 days, the companies said Monday.
Parsons also expects the BCC business to contribute approximately $110 million in gross revenue during 2025.
Opportunities stemming from the Infrastructure Investment and Jobs Act are a high priority for Parsons as the funds from that law have flowed.
The IIJA could unlock $100 billion in Federal Highway Administration formula dollars for government fiscal years 2022 through 2026 across the Southeast, according to Parsons.
BCC primarily operates in Florida, Georgia, Texas, South Carolina and Puerto Rico. In Florida specifically, BCC supports large and complex roadway and bridge projects.
Parsons has also increasingly sought synergies between its federal technology and infrastructure segments over recent years, with digitization and software as a common thread between the two.
In 2023, Parsons purchased two infrastructure-focused acquisitions including I.S. Engineers to gain a greater foothold in Texas. That state is also a significant focal point of IIJA spend.
Prior to BCC, Parsons’ most recent acquisition was that of signals intelligence firm BlackSignal Technologies from Razor’s Edge Ventures in a $200 million transaction.
Parsons was advised by Bank of America Securities and Jenner & Block, while Akerman advised BCC.
Author :
Publish date : 2024-10-21 10:34:00
Copyright for syndicated content belongs to the linked Source.
Author : theamericannews
Publish date : 2024-10-21 21:57:05
Copyright for syndicated content belongs to the linked Source.