URS Acquires Dames & Moore to Form Big Global Engineering Firm

URS Corporation and Dames & Moore Group have signed a definitive agreement under which URS will acquire the Dames & Moore firm for approximately $300 million. It also will assume approximately $300 million of debt for a total transaction value of $600 million. The transaction has been approved unanimously by the boards of both companies.

The proposed combination will create a global engineering company with revenues of approximately two billion dollars and more than 15,000 employees in more than 30 countries around the world. The combined company's services will include planning and analysis, design, and program and construction management for transportation, water/wastewater projects, environmental, commercial/industrial undertakings, and other facilities.

Said Martin M. Koffel, chairman and CEO of URS, said the strategic and operational synergies between the two organizations are considerable. The addition of Dames & Moore and its many engineers, scientists and project managers around the world will broaden the capabilities of URS by adding special expertise in program and construction management, process and chemical engineering, and mult-modal transportation, particularly transit systems.

Headquartered in San Francisco, URS offers a broad range of planning and design services through 140 offices located in 16 countries, including Europe and Asia/Pacific. The firm provides services for infrastructure projects involving air and surface transportation systems; institutional, industrial and commercial facilities; and pollution control, water resources and hazardous waste management programs.

Dames & Moore is a worldwide engineering and construction services firm, whose capabilities include general engineering and consulting, process and chemical engineering, transportation planning and design, and construction services. Headquartered in Los Angeles, Dames & Moore employs more than 7,800 people, and has offices in more than 30 countries.