MARLTON, N.J. and RIO DE JANEIRO, Brazil, Dec. 3, 2010 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that its Madrid-based subsidiary Gerens Hill International S.A. has entered into a definitive agreement to acquire 60% of the outstanding capital stock of Engineering S.A., one of the largest project management firms in Brazil with approximately 500 professionals. Terms of the transaction were not disclosed.
"Engineering S.A. and Hill International are cooperatively joining forces to provide clients with the best of both companies," said Francisco Nioac de Salles, a senior partner with Engineering S.A.
"The combination of our firms will be a major step towards our goal of being the preeminent project management firm in Latin America," said Jose Manuel Albaladejo Gonzalez, Senior Vice President of Hill and Managing Director of Gerens Hill.
"We not only will add a world-class project management firm with outstanding professionals but we also will gain significant access to Brazil, one of the largest and fastest-growing construction markets in the world," said Irvin E. Richter, Hill's Chairman and Chief Executive Officer.
Hill International is being assisted in the transaction by financial advisors Banco Brascan and KPMG and legal advisor Demarest & Almeida. Engineering S.A. is being assisted by financial advisor Rothschild and legal advisor Rosman, Souza Leao, Franco.
Engineering S.A., which has main offices in Rio de Janeiro and Sao Paulo and an additional office in Parauapebas, provides project management, construction management and engineering consulting services throughout Brazil. For more information on Engineering S.A., please visit their website at www.engineering.com.br.
Hill International, with 2,600 employees in 90 offices worldwide, provides program management, project management, construction management and construction claims and consulting services. Engineering News-Record magazine recently ranked Hill as the 8th largest construction management firm in the United States. For more information on Hill, please visit our website at .
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