The deal is expected to be completed early this year and includes all the employees, contracts, leases and other assets of these entities. The businesses will move forwards, continuing to provide sustainable and resilient water, wastewater and flood resilience projects, with existing management and employees but under a new brand as Binnies.
The addition of Binnies will 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 existing 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.
Strengthening its presence in the water sector is a key strategic aim for RSK. The group also acquired the UK-based Water Research Centre (WRc) and its 350 employees last August and acquired Ireland-based water engineer Nicholas O'Dwyer and its 200 employees last March.
The businesses that will make up Binnies are expected to add £160 million (US$218 million) to RSK's annual turnover, which has increased significantly in recent years from £147 million in 2018 to £287 million in 2020.
RSK CEO and founder Alan Ryder said: "This acquisition marks the most significant growth in our 31-year history, positions RSK as a market leader in the water sector and provides a springboard for RSK into the East Asian markets.
"As climate change and biodiversity loss accelerate worldwide, water is becoming increasingly valuable. A key part of RSK's climate agenda is to unleash the natural capital contained in clean water to help address and mitigate the flood risks that exist in so many parts of the world.
"The addition of Binnies to the group will greatly enhance RSK's ability to address climate change, green growth and water and sanitation services at a global level through applied engineering excellence."
"Binnies brings incredibly valuable specialist expertise in all areas of the water utility sector; flood and coastal defence planning and design; specialist environmental services; digital and data services; construction management and commissioning; and operations, thereby bringing a true end-to-end client service offering.
"The combination of RSK's environmental, scientific and engineering capabilities and global presence with Binnies' expertise in water utility, flood and coastal and environmental services will enable our group to deliver ever more sustainable water and environmental solutions."
RSK continues to work towards its 2025 growth and diversification ambition: to become the largest privately-owned environmental and engineering business in Europe, to employ 10,000 people and to turn over £1 billion annually.
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