Colorado-based CH2M, a global engineering firm that netted $78.6 million in sanitary sewer program contracts from the city-parish last year, is in advanced talks to be acquired by its rival, Texas-based Jacobs Engineering Group.
The London Times reports executives of the Dallas-based company are looking to enter the United Kingdom market and believe CH2M—formerly known as CH2M Hill—could help them achieve that.
A CH2M spokesperson declined to comment on the possible acquisition to Denver Post reporters, calling the initial report “a rumor and speculation.” The company reportedly could be acquired for $1.5 billion—much lower expected.
CH2M recently signed a deal to oversee the refurbishment of the Palace of Westminster, according to news reports. It also previously directed the construction of several sports venues for the 2012 Olympics in London, but the firm has faced controversy regarding pension liabilities stemming from its 2011 entry into the British market and lost a contract to oversee a major high-speed rail project in Britain.
A Daily Report analysis found that CH2M, which has offices in Baton Rouge and New Orleans, was one of 10 companies that netted roughly $480 million worth of city-parish contracts last year.
