Sinclair Knight Merz now merged into Jacobs Engineering Group
Engineering group Jacobs Engineering announces the completion of its merger/ take-over of Sinclair Knight Merz (SKM) with all operations now being conducted under the Jacobs Engineering umbrella or name.
With merger proceedings started in September 2013, California headquartered Jacobs Engineering Group Inc. (NYSE: JEC) announced in December 2013, “that it completed its merger transaction with Sinclair Knight Merz, a 6,900-person professional services firm headquartered in Australia, in accord with the previously announced terms.
Jacobs purchased SKM for approximately AUS$1.3 billion in cash (approximately US $1.2 billion as of the date of this release). The purchase price reflects an enterprise value of AUS$1.2 billion (US$1.1 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 (US$1.2 billion).
In the geothermal sector, SKM has mainly been known for its consultancy services for the sector, mostly in exploration services globally.
The name “Sinclair Knight Merz” (SKM) is now disappearing as operations seem to be already being conducted under the name of “Jacobs/ Jacobs Engineering”, at least several employees have changed their details on the online business network LinkedIn.
“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.”
Jacobs is one of the world’s largest and most diverse providers of technical professional and construction services.”
Source: SKM Website