Delcan Corp, a Markham, Ontario-based provider of engineering services to the transportation industry, has been bought by Parsons Corp. The acquisition price was not disclosed. According to Parsons, a Pasadena, California-based specialist in engineering, construction, technical, and management services, the deal signals its geographic expansion in transportation. The transaction also provides an exit to Canadian private equity and mezzanine firm Manulife Capital, a division of Canadian financial services company Manulife Financial Corp. Manulife Capital made an equity investment in Delcan in 2011. Founded in 1953, the company posted revenue of approximately $126 million in 2013.
Parsons Acquires Delcan
Acquisition Broadens Parsons’ Global Footprint in Transportation
PASADENA, CA–(Marketwired – Apr 1, 2014) – Parsons is pleased to announce that it has acquired Delcan, an international multidisciplinary engineering, planning, management, and technology firm that provides a broad range of integrated systems and infrastructure solutions to the transportation market. Delcan is a strategic addition to Parsons and signals the firm’s intent to expand its geographic footprint in transportation, one of the corporation’s four key market areas.
“In addition to increasing our presence in Canada and other key strategic geographies in the world, the acquisition of Delcan continues the progression of our corporate objectives through the expansion of our transportation and infrastructure business lines and our suite of technology offerings,” said Chuck Harrington, Parsons Chairman and CEO. “Moreover, the shared heritage of Parsons and Delcan combined with our shared values further strengthens the strategic and cultural fit of the organizations.”
Over its 60-year history, Delcan has been providing high-quality transportation solutions within the rail and transit, road and highway, structures, water, freight, and intelligent transportation systems (ITS) markets, developing a reputation for exceeding customer expectations. An acknowledged leader in ITS, Delcan will further strengthen Parsons’ offerings in this area across all markets.
“Delcan has long prided itself on working with the most talented customers and colleagues in the industry. We are passionate about delivering innovative work and believe that this acquisition will allow us to accomplish these worthy goals on an even greater scale,” said Jim Kerr, Delcan Chairman and CEO. “I look forward to working with Parsons to ensure that our customers continue to receive the best service possible.”
Harrington added, “We’re enthusiastic to welcome our new colleagues to the Parsons team. They are innovative and technically savvy, and this combination will enable us to achieve even greater success.”
With revenues of approximately $126 million in 2013, Delcan has 800 employees working from more than 25 locations across the globe, including the United States, the Middle East, and Hong Kong. Delcan’s customers include all levels of government, regional network and transit operators, port authorities, and freight and logistics companies.
With revenues of $3 billion in 2013, Parsons is one of the largest transportation planning, engineering, and construction firms in the world, having successfully delivered 10,000+ miles of roads and highways, 4,500+ bridges, and 400+ airports worldwide. The corporation’s extensive portfolio of diverse transportation projects includes rail and transit, road and highway, bridge and tunnel, and aviation infrastructure. Parsons’ expertise encompasses all phases of transportation engineering operations, from the initial planning stage through final design, construction, commissioning, maintenance, and financing.
Parsons, celebrating nearly 70 years of growth in the engineering, construction, technical, and professional services industries, is a leader in many diversified markets, with a focus on transportation, environmental/infrastructure, defense/security, and resources. Parsons delivers design/design-build, program/construction management, and other professional services packaged in innovative alternative delivery methods to federal, regional, and local government agencies, as well as to private industrial customers worldwide. For more about Parsons, please visit www.parsons.com.
Photo courtesy of Delcan Corp