Parsons Corp. has completed its previously announced acquisition of Florida transportation engineering firm BCC Engineering, LLC in an all-cash transaction valued at $230 million.
BCC is a portfolio company of Trivest Partners. The full-service engineering firm provides planning, design and management services for transportation, civil and structural engineering projects in Florida, Georgia, Texas, South Carolina and Puerto Rico.
The acquisition strengthens Parsons’ position in infrastructure and expands its reach in the Southeastern U.S., an area where the Infrastructure Investment and Jobs Act provided approximately $100 billion in Federal Highway Administration formula dollars for fiscal years 2022-2026, the company said.
The transaction is consistent with Parsons’ strategy of acquiring high-growth companies with greater than 10% revenue growth and adjusted EBITDA margins. BCC will be integrated into Parsons’ North America Infrastructure business unit.