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Arcadis to acquire Callison

Purchase price based on nominalised EBITA of $25mn

NEWS, Business, Arcadis, Callison

Arcadis, the leading global natural and built asset design and consultancy firm, is to acquire Callison, a high level architectural and interior design consultancy with offices in the United States, China, Europe, Middle East and Mexico.

The acquisition is being financed with an undisclosed amount of cash, drawing upon a new five-year syndicated loan of $120mn plus cash available from existing funds.

With projects in over 25 countries Callison has annual revenues of $167mn and more than 1,000 employees.

The purchase price is consistent with multiples paid by Arcadis on previous larger transactions and is based on a normalised EBITA of $25mn.

Arcadis will acquire Callison from its primary owner, Blue Point Capital, company management and principals.

Callison is a global leader in retail design and mixed-use developments, which account for more than 80% of its revenues.

The company provides comprehensive services for top retail brands, developers and corporate clients globally, including Nordstrom, Cole Haan, JC Penney, Zara, Williams-Sonoma, and IKEA.

Arcadis intends to leverage the activities of Callison with the existing capabilities of RTKL, which has performed strongly ever since being acquired in 2007, creating a global leader in high level design and architecture.

In the retail sector, Arcadis will be the leading design firm in the world and the leading player in mixed use/commercial developments in Asia.

In addition, ARCADIS sees opportunities to better support clients globally by leveraging the wide range of capabilities, market reach and scale throughout the US, Asia, the Middle East, Europe and South America.

The closing of the transaction is subject to the satisfaction of customary closing conditions, including the receipt of approval from the Beijing Municipal Commission of Commerce and is expected to be completed in the third quarter of 2014.

The acquisition-related costs of approximately €3.5mn are taken by Arcadis in the second and third quarter of 2014.

Neil McArthur, CEO of Arcadis, said: “With the addition of Callison, Arcadis has created a true leadership position in high end design and architecture. We will have a clear leading position in retail globally, a strong leadership position in mixed use/commercial globally and will have a leading international design and architecture position in China.”

John Jastrem, chairman and CEO of Callison, added: “We are excited to be a member of the Arcadis team which has created value for the many other companies that have joined its ranks. Our combined global capability will benefit all our employees and clients.”

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