|
contents | business | |||||||||
| Arcadis acquires Callison Arcadis (Euronext: ARCAD), the leading global natural and built asset design and consultancy firm, announced that it intends to acquire Callison, a high level architectural and interior design consultancy with offices in the United States, China, Europe, Middle East and Mexico. With projects in over 25 countries Callison has annual revenues of US$167 million and more than 1,000 employees. Arcadis will acquire Callison from its primary owner, Blue Point Capital, company management and principals. Callison is a global leader in retail design and mixed-use developments, which account for more than 80% of its revenues. The company provides comprehensive services for top retail brands, developers and corporate clients globally, including Nordstrom, Cole Haan, JC Penney, Zara, Williams-Sonoma, and Ikea. Callison applies its design approach called "User Driven Design" for their markets, including mixed use, retail, hospitality, healthcare and corporate interiors. Callison has a leading position in China, first entering that market in the early 1990s and opening their first office in Shanghai 9 years ago, successfully serving leading mixed use/commercial developers and major global retailers. Arcadis intends to leverage the activities of Callison with the existing capabilities of RTKL, which has performed strongly ever since being acquired in 2007, creating a global leader in high level design and architecture. In the retail sector, Arcadis will be the leading design firm in the world and the leading player in mixed use/commercial developments in Asia. In addition, Arcadis sees opportunities to better support clients globally by leveraging the wide range of capabilities, market reach and scale throughout the US, Asia, the Middle East, Europe and South America. Arcadis will finance this acquisition with an undisclosed amount of cash, drawing upon a new 5-year syndicated loan of US$120 million plus cash available from existing funds. The purchase price is consistent with multiples paid by Arcadis on previous larger transactions and is based on a normalized EBITA of US$25 million. Blue Point Capital, Callison company management, and Callison principals have already agreed to the acquisition. The closing of the transaction is subject to the satisfaction of customary closing conditions, including the receipt of approval from the Beijing Municipal Commission of Commerce and is expected to be completed in the third quarter of 2014. The transaction is expected to be immediately accretive to earnings per share. The acquisition-related costs of approximately €3.5 million are taken by ARCADIS in the second and third quarter of 2014. No further financial details were disclosed. write your comments about the article :: © 2014 Construction News :: home page |