Cardno Ltd. will expand its global footprint in a big way with the addition of Haynes Whaley Associates.
Portland-based Cardno announced it will pay up to $22.25 million to buy the 100-person structural engineering firm, which works with clients in the U.S., Africa, the Caribbean, Malaysia and Singapore.
In addition to Haynes' Houston headquarters, Cardno will add offices in Austin and Reston, Virginia to its portfolio. Haynes will operate under the new name Cardno Haynes Whaley. The company's clients include the City of Houston, the University of Texas university system, Walt Disney Imagineering, the National Institutes of Health, Exxon Mobil and NASA.
Cardno provides infrastructure and environmental services to customers through a worldwide network of offices. It is listed on the Australian Securities Exchange.
In Portland Cardno has contributed design and engineering services to projects including Beaverton's Cedar Hills Crossing and Jantzen Beach.
The acquisition is expected to add $20 million in revenue and $4.6 million in EBITDA in the first 12 months. According to Cardno, it will be immediately accretive.
