KBR seals $400m deal with Babcock to buy UK consultancy
HOUSTON, August 14, 2021
KBR, a major engineering, procurement and construction company, has announced that it has entered into a definitive agreement with Babcock International Group to acquire Frazer-Nash Consultancy, a leading provider of systems engineering, assurance and technology advisory services, for $400 million in cash.
Frazer-Nash delivers high-end systems engineering, systems assurance and technology to solve the world's most complex challenges.
Its talented team provides a broad range of professional advisory services across the defence, energy and critical infrastructure sectors primarily in the UK and Australia.
With expertise in areas such as systems engineering, data science, cyber, and clean energy, Frazer-Nash is highly complementary with KBR's global priorities with minimal overlap because of its geographic footprint, said the statement.
"This acquisition is a continuation of our strategic journey to advance upmarket to deliver innovative, digitally-enabled solutions to governments and customers around the world," remarked KBR President and CEO Stuart Bradie.
According to him, the addition of Frazer-Nash builds on a long track record of successful acquisitions and integrations.
It demonstrates KBR's ability to capitalize on industry tailwinds and long-term market dynamics to enhance capabilities and geographic reach in a capital efficient manner, he noted.
"Frazer-Nash adapted ahead of the curve to evolve with changing market dynamics, whilst delivering consistent profitable growth. I am excited to welcome this tremendous team to our company, and with market tailwinds in our favour, we are well positioned to continue our journey together," he added.-TradeArabia News Service
