Balfour Beatty expands Parson Brinckerhoff business
Infrastructure company Balfour Beatty has purchased Subsurface Group to expand the Energy Storage Services business of it subsidiary, Parson Brinckerhoff, in the US.
Infrastructure company Balfour Beatty has purchased Subsurface Group to expand the Energy Storage Services business of it subsidiary, Parson Brinckerhoff, in the US.
Subsurface is forecast to generate around $50m ($31m) of revenue for the year ended December 31st 2012.
Chief Executive Ian Tyler said: "Subsurface Group's recognised expertise in underground injection and speciality wells and Parsons Brinckerhoff's skills and services in underground storage create synergies for us and for the oil and gas, energy and industrial clients both companies serve.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"We are very pleased to have Subsurface as part of Parsons Brinckerhoff and see this acquisition as a significant step in enhancing our wider capabilities in power and energy - a strategic growth area for Balfour Beatty."
Subsurface, which has its headquarters in Texas, is described as a professional consulting and engineering firm, which provides services in underground injection, underground storage, specialty wells, petroleum and natural resources, and environmental science.
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMs
News The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
By Marc Shoffman Published
-
VAT hike on private school fees could come earlier than previously expected
The government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
By Katie Williams Published