Geomatrix is a diversified technical consulting and engineering firm headquartered in Oakland, California. The company employs some 500 engineers, scientists and other professionals in 18 offices across the United States and one office in Canada. Geomatrix offers specialized environmental, geotechnical and water resources services to clients in the oil and gas, industrial, mining and municipal sectors.
The purchase is consistent with AMECâ€™s strategy of geographic and capacity expansion in the Earth and Environmental business and follows the acquisition of six smaller environmental consultancy businesses since January 2007.
Samir Brikho, AMEC Chief Executive said: â€œWith services ranging from environmental impact assessments to remediation, our Earth and Environmental capability is an important differentiator in AMECâ€™s portfolio of services. Geomatrix will significantly enhance our geographic coverage and our ability to provide customers with high value consultancy services.â€
Roger Jinks, President of AMECâ€™s Earth and Environmental division added: â€œThis acquisition not only strengthens our presence in the United States, but also adds significant depth to our consulting talent in the environmental remediation, seismic and groundwater services growth markets.â€
Anthony Daus, President of Geomatrix said: â€œWe are pleased to be joining AMEC and becoming part of this growing and dynamic organization. This will allow us to better serve our clients nationally and internationally and provides excellent technical and professional opportunities for our staff.â€
Locations of Geomatrix offices: Corona, Eureka, Folsom, Fresno, Newport Beach, Oakland and Sacramento, Calif.; Phoenix, Ariz.; Denver, Colo.; Minneapolis, Minn.; Helena and Missoula, Mont.; Buffalo, N.Y.; Austin and Houston, Texas; Herndon, Va. (Washington, D.C. area); Lynnwood and Seattle, Wash.; and Waterloo, Ont.
Brad Christensen, Media Relations: +1 602-432-1339
Lauren Gallagher, Media Relations: +1 602 757 3211
Notes to editors:
AMEC is a focused supplier of high-value consultancy, engineering and project management services to the worldâ€™s energy, power and process industries. With annual revenue over US$4.6 billion, AMEC designs, delivers and maintains strategic and complex assets for its customers. AMECâ€™s Natural Resources, Power and Process, and Earth and Environmental businesses employ approximately 22,000 people in more than 30 countries globally. AMEC shares are traded on the London Stock Exchange where the company is listed in the Oil Equipment and Services sector. (LSE: AMEC.L).
For the Geomatrix acquisition, three-quarters of the purchase price â€“ US$63.75 million â€“ will be paid at closing with the balance to be paid over the next two years. The acquisition is expected to close later this week.
AMECâ€™s Earth and Environmental division operates from 130 offices in the U.S., Canada and overseas. The business provides a broad range of environmental, geotechnical, water resources, infrastructure, materials testing, and project management services to public and private clients.
Earth and Environmental works for customers common to AMECâ€™s Natural Resources and Power and Process divisions, providing services from environmental impact assessments at the earliest stages of the project life cycle right through to advising on clean up following decommissioning.
Market drivers for this division include growth in environmental legislation; increasing corporate social responsibility; increasing use of brownfield sites and exploration of increasingly environmentally sensitive regions by natural resources companies.
The market for environmental services is large and fragmented. Earth and Environmental will continue to follow a strategy of continued growth in selected sectors, both organically and by way of acquisitions which will enhance capabilities and facilitate selective regional expansion.