Hill Intl (MM) (NASDAQ:HINT)
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From May 2019 to May 2024
Hill International (Nasdaq:HINT), the worldwide construction consulting
firm, announced today that it has acquired John Shreeves Holdings Ltd.
and its operating subsidiary John Shreeves & Partners Ltd. (collectively “Shreeves”),
a London-based firm that provides project management and cost
consultancy services on private- and public-sector projects throughout
the United Kingdom. Terms of the transaction were not disclosed.
Shreeves’ clients include some of the largest
tenants, developers and public entities in the United Kingdom, including
Westfield Shopping Towns, Hermes Property Asset Management, Delancey
Estates, Land Securities, Grafton Property Advisors, F&C Property Asset
Management, Bank of Scotland, Reckitt Benckiser, Woolworths, KPMG, the
Royal Borough of Kensington and Chelsea, the Abbey School Reading and
the College of North West London.
The acquired business will continue to operate under the Shreeves brand
name until its operations have been consolidated with Hill’s.
For its last fiscal year, ended April 30, 2007, Shreeves had revenues of
approximately £2.4 million ($4.9 million).
“We are very excited about the acquisition of
Shreeves, which gives us a well-respected project management practice in
the key UK market,” said Irvin E. Richter, Hill’s
Chairman and Chief Executive Officer. “Shreeves
has an excellent group of highly-regarded construction professionals,
and we believe that they will be a great addition to the Hill team,”
Richter added.
“I am excited by the combination of Hill
International and Shreeves which results in an experienced force with
strength in depth that has the ability to address all management and
cost control issues of major projects,” said
John W. Shreeves, Chairman and founder of Shreeves.
In connection with this transaction, Shreeves was advised by the law
firm of Rosling King. Hill was advised by financial advisor
PricewaterhouseCoopers LLP and the law firm of Clifford Chance LLP.
Shreeves provides project management, cost consultancy, building
surveying and planning supervision services on private- and
public-sector developments throughout the United Kingdom. Shreeves is
involved on a wide range of projects including offices, shopping
centers, residential schemes, fit-out works, business parks, educational
buildings and leisure facilities. For more information on Shreeves,
please visit their website at www.shreeves.co.uk.
Hill International, together with Shreeves, has 1,600 employees in 70
offices providing program management, project management, construction
management, and construction claims services worldwide. Engineering
News-Record magazine recently ranked Hill as the 10th largest
construction management firm in the United States. For more information
on Hill, please visit our website at www.hillintl.com.
This press release includes certain statements that fall within the
definition of “forward-looking statements”
under the Private Securities Litigation Reform Act of 1995. Any such
statements are subject to risks and uncertainties, overall economic and
market conditions, competitors’ and clients’
actions, and other conditions, which could cause actual results to
differ materially from those anticipated, including those risks
identified in Hill’s filings with the
Securities and Exchange Commission. Accordingly, such statements should
be considered in light of these risks. Any prediction by Hill is only a
statement of management’s belief at the time
the prediction is made. There can be no assurance that any prediction
once made will continue thereafter to reflect management’s
belief, and Hill does not undertake to update publicly its predictions,
whether as a result of new information, future events or otherwise. All
currency conversions shown above were made using the exchange rate in
effect as of the date of this press release.
(HINT-G)