RSK is setting out its time with the final talks to pull Binnie & Partners into its group and acquire the ownership for one of the grandest names in the UK. Binnies is known to be a firm that works on civil engineering, designing dams and water projects around the world.
Binnies was taken over by US engineer Black & Veatch back in 1995. But now, the new ownership is coming back with RSK’s acquisition being highlighted on the top. RSK Group has confirmed that the acquisition talks with Black & Veatch’s Water Europe and Water Asia businesses are in the final stages.
The group from which the acquisition takes place includes UK-based Black & Veatch Limited, Black & Veatch Hong Kong Limited and Black & Veatch (SEA) Pte Limited in Singapore. This deal is probably expected to complete in early 202.
All the contracts, employees, leases and other assets will be in control of RSK while moving from the acquiring entities. RSK intends to operate these businesses under the revived legacy brand of Binnies.
The addition of Binnies is a big deal for RSK. It increases its annual turnover by more than 50%, from £287m to £447m. It will also increase the overall RSK headcount from 4,300 to 5,500 employees worldwide. It will expand the number of countries in which RSK is present from 27 to 31 and significantly add to RSK’s Asian footprint. Operations in Hong Kong, mainland China, Singapore, the Philippines and Vietnam will be brought into the group, in addition to the Binnies’ offices throughout the UK.
RSK intends to strengthen its presence in the water sector with a great scope while acquiring Binnies. It acquired the UK-based Water Research Centre (WRc) and its 350 employees in August last year.