Parsons Completes Acquisition of BCC Engineering
Acquisition strategically enhances Parsons’ infrastructure capabilities in the Southeast U.S.
CHANTILLY, Va., Nov. 01, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) announced today that it has completed the previously announced acquisition of BCC Engineering, LLC (BCC), one of Florida's leading transportation engineering firms, in an all-cash transaction valued at $230 million.
BCC, a portfolio company of Trivest Partners, is a full-service engineering firm that provides planning, design, and management services for transportation, civil, and structural engineering projects in Florida, Georgia, Texas, South Carolina, and Puerto Rico.
The acquisition strengthens Parsons’ position as an infrastructure leader while expanding the company’s reach in the Southeastern United States, an area where the Infrastructure Investment and Jobs Act (IIJA) provided approximately $100 billion in Federal Highway Administration formula dollars for fiscal years 2022-2026. The transaction is consistent with Parsons’ strategy of acquiring high-growth companies with greater than 10% revenue growth and adjusted EBITDA margins. BCC will be integrated into Parsons’ North America Infrastructure business unit.
About Parsons
Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and intelligence, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure protection. Please visit parsons.com and follow us on LinkedIn and Facebook to learn how we're making an impact.
Forward-Looking Statements
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