Parsons will acquire BCC Engineering (a Florida-based transportation engineering firm) for $230 million in cash. BCC (owned by Trivest Partners) offers planning, design, and management services for projects in Florida, Georgia, Texas, South Carolina, and Puerto Rico. This deal boosts Parsons’ infrastructure presence in the Southeastern U.S. and aligns with its strategy of buying high-growth companies with over 10% revenue growth and strong EBITDA margins.
BCC completed over 100 major projects for the Florida Department of Transportation and it has been named a top workplace and a top design firm. And Parsons and BCC have been long-time collaborators on key infrastructure projects and will continue delivering value and impact for clients globally.
BCC will be integrated into Parsons’ North America Infrastructure business unit.
The deal is set to close in 30 days, pending customary conditions. BofA Securities and Jenner & Block advised Parsons, while Akerman advised BCC.
KEY QUOTES:
“Parsons’ acquisition of BCC represents another important milestone in our mission to advance mobility solutions across North America. The addition of BCC’s talented team expands our service offerings and furthers our impact during this transformative era for infrastructure. Our collaboration will enable us to drive progress, foster economic growth, and ultimately create more connected and resilient infrastructure across the nation. I am excited to welcome BCC into Parsons.”
– Carey Smith, Parsons’ chair, president and CEO
“We are excited to become part of Parsons’ team. This acquisition marks a significant milestone for both of our organizations and represents a shared vision for the future of infrastructure in our communities. Parsons is a leader in the digitization of design and delivery of infrastructure, and this provides our team the opportunity to be at the forefront of the industry. Together we’re unlocking the potential of transportation infrastructure for our customers and communities where we live and work.”
– Jose Muñoz, BCC’s president and CEO
