Jacobs Engineering Group Inc. (NYSE:JEC) announced today that it has acquired an interest in Guimar Engenharia, a privately held engineering services and project management/construction management (PMCM) company based in Rio de Janeiro, Brazil.
Company officials did not disclose the terms of the agreement, but noted that the acquisition is a staged investment, with each stage subject to certain closing conditions.
Guimar has a broad client base and operations throughout Brazil, where it is a leading provider of PMCM services for clients in the pulp and paper, petroleum, chemicals, food and beverage, mining and minerals, building and infrastructure industries.
The acquisition represents Jacobs’ first significant investment in Brazil, enhancing its ability to serve key clients investing in Brazil and expanding the Company’s network of South American operations.In making the announcement, Jacobs Executive Vice President Gary Mandel stated, "We are delighted at the prospect of bringing Guimar into Jacobs. Their business approach is aligned with ours; they have a proven and solid reputation, and great client relationships in their marketplace. With over 1,100 engineering and PMCM skilled resources, they would enable us to further enhance and build our business, both globally and locally." Guimar`s CEO Herodoto Monte stated, “We are very enthusiastic about joining Jacobs. This event represents an important step for Guimar, as we open up new avenues for the diversification and growth of our business. We expect the combined synergy of values, expertise and capabilities of Jacobs and Guimar together to boost our growth; increasing the portfolio we can offer to our present and future clients, and providing new opportunities for our employees.” Jacobs is one of the world's largest and most diverse providers of technical, professional, and construction services. Statements made in this release that are not based on historical fact are forward-looking statements. Such statements relate to a variety of matters, including but not limited to, the timing and expected completion of the proposed transaction. We base these forward-looking statements on management’s current expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause actual results to differ materially from these forward-looking statements, including but not limited to: risks relating to the consummation of the proposed transaction, including the risk that the closing conditions of the transaction will not be satisfied; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed transaction; litigation relating to the proposed transaction or its completion; unexpected costs, charges or expenses resulting from the proposed transaction or its completion; any operational, cultural or financial difficulties associated with the integration of Jacobs’ and Guimar’s businesses; and any changes in general economic and/or industry-specific, or company specific conditions. For a description of some of the additional factors which may occur that could cause actual results to differ from these forward-looking statements please refer to our 2012 Form 10-K, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.