Jacobs Completes Acquisition of Majority of Aker Solutions' Process & Construction Business
1 February 2011
Jacobs Engineering Group Inc. announced today that it has completed the acquisition of a number of Aker Solutions’ operations within its Process and Construction (P&C) business area. Jacobs is one of the world’s largest and most diverse providers of technical, professional, and construction services. The acquisition, which Jacobs initially announced on Dec. 21, 2010, has a cash purchase price of approximately US$675 million, adjusted for cash and debt acquired.
Aker Solutions’ P&C operations significantly expand Jacobs’ global presence in the mining and metals market; provide a new geographic region with South America; and strengthen Jacobs’ presence in China. It also enhances Jacobs’ regional presence in Australia, Europe and North America. Jacobs President and Chief Executive Officer Craig Martin said, "This acquisition directly supports our growth model and expands our global footprint to important geographies. Additionally, Aker Solutions’ P&C business brings strength to several different areas of our business and positions us as a top-tier, global player in the mining and metals business."