Hill International Acquires John Shreeves
2008年1月5日 - 7:27AM
ビジネスワイヤ(英語)
Hill International (Nasdaq:HINT), the worldwide construction
consulting firm, announced today that it has acquired John Shreeves
Holdings Ltd. and its operating subsidiary John Shreeves &
Partners Ltd. (collectively �Shreeves�), a London-based firm that
provides project management and cost consultancy services on
private- and public-sector projects throughout the United Kingdom.
Terms of the transaction were not disclosed. Shreeves� clients
include some of the largest tenants, developers and public entities
in the United Kingdom, including Westfield Shopping Towns, Hermes
Property Asset Management, Delancey Estates, Land Securities,
Grafton Property Advisors, F&C Property Asset Management, Bank
of Scotland, Reckitt Benckiser, Woolworths, KPMG, the Royal Borough
of Kensington and Chelsea, the Abbey School Reading and the College
of North West London. The acquired business will continue to
operate under the Shreeves brand name until its operations have
been consolidated with Hill�s. For its last fiscal year, ended
April 30, 2007, Shreeves had revenues of approximately �2.4 million
($4.9 million). �We are very excited about the acquisition of
Shreeves, which gives us a well-respected project management
practice in the key UK market,� said Irvin E. Richter, Hill�s
Chairman and Chief Executive Officer. �Shreeves has an excellent
group of highly-regarded construction professionals, and we believe
that they will be a great addition to the Hill team,� Richter
added. �I am excited by the combination of Hill International and
Shreeves which results in an experienced force with strength in
depth that has the ability to address all management and cost
control issues of major projects,� said John W. Shreeves, Chairman
and founder of Shreeves. In connection with this transaction,
Shreeves was advised by the law firm of Rosling King. Hill was
advised by financial advisor PricewaterhouseCoopers LLP and the law
firm of Clifford Chance LLP. Shreeves provides project management,
cost consultancy, building surveying and planning supervision
services on private- and public-sector developments throughout the
United Kingdom. Shreeves is involved on a wide range of projects
including offices, shopping centers, residential schemes, fit-out
works, business parks, educational buildings and leisure
facilities. For more information on Shreeves, please visit their
website at www.shreeves.co.uk. Hill International, together with
Shreeves, has 1,600 employees in 70 offices providing program
management, project management, construction management, and
construction claims services worldwide. Engineering News-Record
magazine recently ranked Hill as the 10th largest construction
management firm in the United States. For more information on Hill,
please visit our website at www.hillintl.com. This press release
includes certain statements that fall within the definition of
�forward-looking statements� under the Private Securities
Litigation Reform Act of 1995. Any such statements are subject to
risks and uncertainties, overall economic and market conditions,
competitors� and clients� actions, and other conditions, which
could cause actual results to differ materially from those
anticipated, including those risks identified in Hill�s filings
with the Securities and Exchange Commission. Accordingly, such
statements should be considered in light of these risks. Any
prediction by Hill is only a statement of management�s belief at
the time the prediction is made. There can be no assurance that any
prediction once made will continue thereafter to reflect
management�s belief, and Hill does not undertake to update publicly
its predictions, whether as a result of new information, future
events or otherwise. All currency conversions shown above were made
using the exchange rate in effect as of the date of this press
release. (HINT-G)
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