KBR Acquires Roberts and Schaefer Company
December 21 2010 - 9:28AM
Business Wire
KBR (NYSE: KBR) announced that it has acquired Chicago-based
Roberts & Schaefer Company. Roberts & Schaefer, a
subsidiary of Elgin National Industries, is a global leader in
engineering, procurement and construction (EPC) services for bulk
material handling and processing systems. The company provides
services and associated processing infrastructure to customers in
the mining and minerals, power, industrial, refining, aggregates,
precious and base metals industries. The purchase price is $280
million, plus preliminary net working capital of $12 million with
final adjustment after closing.
In addition to its Chicago headquarters, Roberts & Schaefer
has major operations in locations that include Salt Lake City,
Utah; Brisbane, Australia; Gliwice, Poland; Jakarta, Indonesia; and
Ahmedabad, India. Roberts & Schaefer also includes Soros, a
provider of material handling solutions for port and marine
applications, and Separator, providing services to coal, minerals
and power markets in Eastern Europe.
“We are pleased to add the capabilities and talented staff of
Roberts & Schaefer to KBR. This acquisition enhances our
strategy to be a leading services provider in commodity markets and
we feel the addition of Roberts & Schaeffer to our existing
engineering and construction platform enables KBR to significantly
broaden our services offerings to a wide range of commodity,
material handling and process customers,” said William P. Utt, KBR
Chairman, President and CEO.
Roberts & Schaefer’s internationally-differentiated
technical offerings bring bulk materials handling capabilities to
KBR’s existing minerals business. The company will also add ports
and marine infrastructure capabilities for KBR’s clients. These
combined operations will enable KBR to participate in mining and
power developments from pre-feasibility to feasibility, through
design, and construction, creating a pit-to-port and port-to-boiler
capability. Roberts & Schaefer will complement KBR’s existing
competencies in mine infrastructure, project management and
implementation.
“This acquisition signals KBR’s continuing commitment to expand
its global footprint across several commodity markets,” said Mark
Williams, Group President, KBR Infrastructure, Government and
Power. “This is a significant step towards providing our clients
with a more diverse and differentiated service offering."
KBR is a global engineering, construction and services company
supporting the energy, hydrocarbon, government services, minerals,
civil infrastructure, power and industrial markets. For more
information, visit www.kbr.com.
Elgin National Industries is a portfolio company of OCM/GFI
Power Opportunities Fund II, L.P., a private equity fund co-managed
by Los-Angeles-based Oaktree Capital Management and GFI Energy
Ventures.
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