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.

"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.

Recommended

The Burberry share price looks like a good bet
Trading

The Burberry share price looks like a good bet

The Burberry share price could be on the verge of a major upswing as the firm’s profits return to growth.
5 Oct 2022
3 emerging market dividend stocks to buy now
Share tips

3 emerging market dividend stocks to buy now

Professional investor Omar Negyal of the JPMorgan Global Emerging Markets Income Trust picks three of his favourite emerging market stocks for income …
4 Oct 2022
Share tips of the week – 30 September
Share tips

Share tips of the week – 30 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
30 Sep 2022
The best British tech stocks from a thriving sector
Share tips

The best British tech stocks from a thriving sector

Move over, Silicon Valley. Over the past two decades the UK has become one of the main global hubs for tech start-ups. Matthew Partridge explains why,…
29 Sep 2022

Most Popular

Should you take a 25% tax-free pension lump sum in instalments?
Pensions

Should you take a 25% tax-free pension lump sum in instalments?

Taking out a 25% tax-free lump sum sounds appealing but it might not be the best way to manage your pension
30 Sep 2022
October’s Premium Bonds: how to check if you are a winner
Savings

October’s Premium Bonds: how to check if you are a winner

NS&I has added almost 110,000 more prizes to October’s Premium Bond draw – are you a winner?
4 Oct 2022
Section 75 refunds: protection for your credit card purchases
Credit cards

Section 75 refunds: protection for your credit card purchases

Under Section 75 of the Consumer Credit Act 1974, your credit card can give you extra protection when the goods or services you buy fall short of your…
23 Sep 2022