Wednesday, September 17, 2008

TBE Group merges with Aussie firm Cardno Limited

PSMJ's Mergers & Acquisitions Division has learned that Florida based TBE Group announced it has joined forces with Australian-based Cardno Limited in a merger that took effect Sept 15, 2008.

The merger with Cardno means that TBE, a 450-person engineering, environment and planning firm becomes a key part of an international industry leader with a combined resource base of 3,400 staff working on projects in more than 60 countries.

Patrick Beyer, President of TBE explained that the benefits of the merger include providing clients with a wider range of services and locations, providing staff with additional opportunities for career development, and to accelerate the growth of TBE across the US and overseas.

TBE has achieved approximately 14% percent annual revenue growth for the last 10 years and has also expanded into Canada, the United Kingdom and Asia in recent years.

TBE brings to Cardno a core competency in coordination of major infrastructure projects - particularly in the areas of utility mapping, utilities coordination, right-of-way acquisition and relocation, transportation engineering, construction engineering, and civil and environmental engineering. Recent projects include construction of the new I-35 Mississippi River Bridge in Minnesota and the Metro Parkway - State Route 739 project in Florida.

Cardno brings to TBE a broader range of civil and structural engineering, international development assistance, environmental, project management and planning services across many countries including Australia, New Zealand, United States, United Kingdom, Indonesia, Kenya, Sri Lanka, China and United Arab Emirates.

With the addition of TBE, staff reporting to Cardno’s U.S. operations now comprise 1,150 staff across 39 offices and a further four branch offices in the United Kingdom, Belgium and Canada. Cardno’s other U.S. businesses include WRG Design, Emerging Markets Group and XP Software.

President of Cardno USA, Michael Renshaw, said TBE offers tremendous potential to cross-sell capabilities with Cardno’s existing US based businesses and also with its operations in other countries and continues Cardno’s strategy of diversifying its skills base and markets.

TBE’s key management will become Cardno shareholders and remain active in the company. Pat Beyer the founder of TBE will remain as President.

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