Business Achievement: Mergers & Acquisitions

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Gold MedalGENIVAR Inc. (Montreal, Quebec) and WSP Environment & Energy (Reston, VA) for merging to create a global professional services firm with combined revenue of $1.8 billion and 14,500 employees, working in over 300 offices in 35 countries. The merger combined common skills and complementary geographies and client sectors to achieve both firms' strategic ambitions for global, diversified growth. Over their history, both businesses had developed strong capabilities in their environmental practices and are now able to offer fully integrated solutions to clients. The merger of WSP and GENIVAR has increased the size of their combined environmental business to 1,600 staff and $322 million in annual revenue. During 2012, GENIVAR also acquired the following: Bogota-based Consultores Regionales Asociados S.A.S. (CRA), a 340-person firm specializing in civil, environmental, energy, and telecommunications engineering; GRB Engineering Ltd. (Calgary, Alberta), an 80-person engineering firm; and Smith Carter Architects and Engineers, Inc. (Winnipeg, Manitoba), a 190-employee integrated architectural and engineering firm specializing in the design of complex projects in the science, technology, healthcare, security, defense, and urban impacts markets.

Silver MedalCardno Ltd. (Brisbane, Australia) for completing a series of acquisitions continuing its expansion into the U.S. environmental market and onward into South America. In February, Cardno merged with ATC Associates Inc. (Lafayette, LA) in a transaction valued at approximately $106 million. ATC added 71 offices in 39 states and client relationships with Speedway, ConocoPhillips, Bechtel, Walmart, the Port of New Jersey/New York, the New York City Housing Authority, and the North Carolina Department of Environment and Natural Resources. In July, Cardno announced that it had acquired EM-Assist (Folsom, CA), a 150-person environmental compliance and information management firm, for $14.25 million, and Marshall Miller & Associates, Inc. (MM&A; Bluefield, VA), a 180-person environmental consulting firm serving the energy and mining industries, for a consideration of up to $31 million. In December, Cardno purchased ChemRisk, LLC (San Francisco, CA), a 95-person environmental and health risk consulting firm, for a consideration valued up to $33 million. Cardno finished the year with expansion in Latin America, acquiring Caminosca S.A. (Quito, Ecuador), a 400-person consulting and engineering firm serving the hydropower, mining, oil and gas, transportation, urban development, and water, sewer, and stormwater markets.

Silver MedalHDR, Inc. (Omaha, NE) for expanding its service base and its geographic reach, in the United States and abroad, through a number of acquisitions. In May, HDR acquired Stetson Engineering, Inc., a Wyoming-based consulting and engineering firm with offices in Gillette and Riverton. Stetson Engineering specializes in water, sewer, stormwater, hydrology, and transportation design and engineering. In July, HDR announced the acquisitions of InfraConsult, an infrastructure management and advisory services firm with five offices in Arizona, California, Hawaii, and New Mexico, and DKS Consulting Engineers (Spring Hill, Queensland), an Australian infrastructure services firm. InfraConsult is operating as a wholly owned subsidiary of HDR Engineering, Inc., while DKS is operating as HDR/DKS. And in September, HDR Engineering picked up Ecosystem Management & Associates, Inc. (Lusby, MD), a woman-owned consulting firm specializing in coastal zone management, military range sustainability, pollution studies and management, environmental conflict resolution, and environmental outreach.

Bronze MedalHeckmann Corp. (Pittsburgh, PA) for continuing its buildout, through acquisition, of a national network of companies providing wastewater management and related services to the oil & gas exploration and production (E&P) market. In April, Heckmann completed its acquisition of TFI Holdings, Inc. and Thermo Fluids Inc. from private equity firm CIVC Partners (Chicago, IL) for about $245 million. Thermo Fluids, now operating as Heckmann Environmental Services (HES), is an environmental services and waste recycling company that specializes in the collection and recycling of used motor oil for customers in the western United States. In September, Heckmann acquired Appalachian Water Services, LLC (AWS), operator of a wastewater treatment and recycling facility in Pennsylvania’s Fayette County. In early December, Heckmann completed its merger with Badlands Energy, LLC (Watford City, ND) for a consideration of $125 million in cash and the issuance of 95 million shares of Heckmann common stock to owner Mark Johnsrud. Badlands Energy does business as Power Fuels, which is an environmental services provider focused on the transportation, treatment, recycling, and disposal of fluids generated by oil and gas operations in the Bakken Shale region.

Honorable MentionIHS, Inc. (Englewood, CO), a provider of environmental, health, safety and sustainability (EHS&S) information to asset-intensive industries, for the acquisition of CyberRegs from Citation Technologies, Inc. and XēDAR Corp. (Arvada, CO). Acquired for $11 million, CyberRegs provides managed EHS regulatory content from across North American jurisdictions, content that is now integrated into enterprise-level EHS software and backed by IHS's domain expertise. IHS sees CyberRegs as further extending its leadership in the growing EHS&S market space. IHS acquired X?DAR Corp., a 134-person provider of geospatial information products and services, for approximately $28 million. X?DAR provides imagery processing solutions and related land information to government, oil and gas, utility, and other clients that manage or exploit natural resources.