Partner Article

Balfour Beatty makes U.S acquisition

International infrastructure giant Balfour Beatty has acquired U.S energy storage firm, Subsurface Group, for an undisclosed sum.

The firm announced the deal on Thursday morning, and said the agreement had been made to expand its Parson Brinckerhoff Energy Storage unit, also based in North America.

Parson Brinckerhoff, which became Balfour Beatty’s professional services division in 2009, has worked on large scale global contracts such as the Shanghai Tower, the Indira Gandhi International Airport in New Delhi and the Mountain View Corridor in Utah, U.S. Parson Brinckerhoff is one of the top world companies in design and construction for underground salt caverns for underground storage.

Balfour Beatty said the addition of Subsurface to its portfolio will allow the firm to “enhance [its] global offering”, with its expertise in underground injection wells, and the handling of hazardous and non-hazardous waste.

The buyer’s chief executive, Ian Tyler, commented: “Subsurface Group’s recognized expertise in underground injection and specialty wells and Parsons Brinckerhoff’s skills and services in underground storage create synergies for us and for the oil and gas, energy and industrial clients both companies serve.

“We are very pleased to have Subsurface as part of Parsons Brinckerhoff and see this acquisition as a significant step in enhancing our wider capabilities in power and energy - a strategic growth area for Balfour Beatty.”

This was posted in Bdaily's Members' News section by Miranda Dobson .