RSK to buy parts of Black & Veatch
06 January 2021
Deal for three water engineering consulting businesses will increase RSK’s turnover by €175 million
RSK Group in the UK is to acquire Black & Veatch’s water engineering businesses in Europe and Asia.
The consultant said in December it was in the final stages of agreeing the deal, which includes UK-based Black Veatch Limited, Black & Veatch Hong Kong Limited and Singapore-based Black & Veatch (SEA) Pte Limited.
Black & Veatch will continue with its management consulting and oil and gas and power businesses. Similarly, its water operations in North America, South America, Australia, India and New Zealand are not being sold.
Alan Ryder, the CEO and founder of RSK, said, “This acquisition marks the most significant growth in our 31-year history, positions RSK as a market leader in the water sector and provides a springboard for RSK into the East Asian markets.”
While the three Black & Veatch companies will be collectively rebranded under the name ‘Binnies’, they will continue to operate as separate businesses, with regional managing directors, Scott Aitken in the UK, William Yong in Singapore and Andy Kwok in Hong Kong retaining their positions.
Due to be completed in early 2021, the deal will see the company employ a worldwide staff of 5500 people and provide sustainable water, wastewater and flood resilience services in a total of 31 countries, including Hong Kong, China, Singapore, Vietnam and the Philippines.
Ryder said, “The combination of RSK’s environmental, scientific and engineering capabilities and global presence with Binnies’ expertise in water utility, flood and coastal and environmental services will enable our group to deliver ever more sustainable water and environmental solutions.”
The acquisition is anticipated to add €175 million (£160 million) to RSK’s annual turnover and is part of RSK’s growth strategy. The company is aiming to increase its turnover to over €1.1 billion (£1 billion) a year and become the largest privately owned environmental and engineering business in Europe by 2025.