UK-based engineering company Atkins has completed its $318m acquisition of US EnergySolutions' Projects, Products and Technology (PP&T) business. The acquisition, announced in November 2015, was completed on 12 April after receiving the necessary approvals from North American regulators.
UK-based engineering company Atkins has completed its $318m acquisition of US EnergySolutions’ Projects, Products and Technology (PP&T) business. The acquisition, announced in November 2015, was completed on 12 April after receiving the necessary approvals from North American regulators.
The PP&T business, with 650 employees, delivers a wide range of technical engineering and programme management services for the decontamination and decommissioning of high-hazard government nuclear facilities. As well as designing solutions for the treatment and stabilization of high-, intermediate- and low-level wastes in North America, PP&T has a strong presence in the Asia Pacific region, and Atkins said that the technology element of the acquisition paved the way for its expansion into China, Japan and North America.
Atkins intends to capitalize on future developing markets through a new business structure. Its Europe, Middle East and Africa nuclear division will continue to be headed by Chris Ball, who said the acquisition placed Atkins in a position as "one of the leading players in our industry".
The company’s nuclear division in the Americas and Asia Pacific will be headed by PP&T’s Mark Morant. "We have the capability to work on almost any project, anywhere in the world. Our technology portfolio offers extensive opportunity in established and new markets alike from North America to China. It is an extremely exciting period for the business and has already opened a number of doors to future opportunities around the world," he said.
EnergySolutions said that the sale of its PP&T business "is part of a business strategy which will allow the company to place more emphasis on its core business capabilities which include transportation, logistics, processing and disposal (LP&D)". In addition to the LP&D business, EnergySolutions said it will retain its reactor decommissioning business, including current projects in the US states of Illinois and Wisconsin and its North American utility services, including liquid waste processing, fuel pool services, and other commercial projects.