OIL services and engineering firm AMEC has bought US industrial peer MACTEC for $280m (£173m) as it looks to expand its presence in North America.
The British company bought the environmental services firm from its private equity backers in a cash deal.
Georgia-based MACTEC has some 2,600 employees and 70 offices across the east coast of the US.
The firm provides environmental planning, assessment and infrastructure engineering, and has a string of long-term clients including the US government.
Buying the US company will give the British firm greater international reach and growth opportunities.
“This acquisition provides AMEC with the right scale to service this important and growing environmental and infrastructure engineering services market,” said AMEC chief executive Samir Brikho.
MEET THE ADVISERS: DEUTSCHE BANK
DEUTSCHE bank advised AMEC on its £173m takeover bid for MACTEC.
The team from the bank was led from London by chairman of UK corporate broking James Agnew.
A veteran banker with almost 20 years experience in corporate broking, Agnew currently sits on the Takeover Panel and has had a prolific City career. He currently sits on the London Stock Exchange Primary Markets Group.
He has also advised Rupert Murdoch’s News Corp on its approach for the shares the company does not already own in British satellite broadcaster BSkyB.
He also advised Kraft on its bid for Cadbury.
Agnew joined Deutsche in 2002, having previously been head of corporate broking at Merrill Lynch from 1995.
He qualified as a chartered accountant with KPMG and is also a non-executive director on the board of oil firm Melrose Resources.
Also advising AMEC from Deutsche is Rupert Green, a member of the German bank’s corporate broking team.
Bank of America Merrill Lynch also advised AMEC on its takeover deal.