Atkins to Acquire Division of EnergySolutions

United Kingdom-based Atkins yesterday announced it signed an agreement to acquire EnergySolutions’ Projects, Products and Technology segment for $318 million. PP&T’s portfolio includes environmental remediation projects, and Atkins said it sought out the deal, in part, because it accelerates Atkins’ nuclear strategy and because EnergySolutions has a complementary customer base and capabilities, a Nov. 17 press release states. PP&T comprises 650 personnel who work in the decontamination and decommissioning and in environmental remediation of nuclear waste storage sites, according to the release. Last year, the group reported $281.4 million in revenue from continuing operations, and $30.7 million in adjusted operating profit.

 

“Our combined business is well positioned in all the major nuclear markets in North America, UK, Europe, Middle East and Asia Pacific,” Atkins CEO Dr. Uwe Krueger said in a statement. “In the U.S., which has the largest nuclear fleet, we are at the top table for decommissioning, site operations, major projects and consultancy.” The move complements Atkins’ 2014 acquisition of Nuclear Safety Associates, Krueger added.

The acquisition is expected to complete in the first quarter of next calendar year, and is conditional upon customary regulatory approvals in North America, according to the release. The acquisition will be funded through money from Atkins and “available committed bank facilities,” the release states.