Balfour buys RT Dooley

Global engineering group Balfour Beatty has acquired American construction firm, RT Dooley Construction, for a cash offer of $40m.


Global engineering group Balfour Beatty has acquired American construction firm, RT Dooley Construction, for a cash consideration of $40m (£27.5m).



RT Dooley is family-owned firm based in Charlotte specialising in the construction of corporate headquarters and ‘mission critical’ operations such as call centres.



With revenues of approximately $300m, its customers include Bank of America, Wachovia, Lowes and Duke Energy.



Its activities are said to be complementary to Balfour Beatty Construction US’s south east division, which is also based in Charlotte.



Speaking of the acquisition, Balfour Beatty chief executive, Ian Tyler, said: ‘RT Dooley is a high-quality business with a leading position in its markets. As customers seek an expanded range of services from the same supplier, combining our capabilities with RT Dooley enhances our ability to meet customers’ needs.’



Both companies use qualification-based tendering in their business model, where the cost is with the client after much of the design work has been complete and prices agreed with sub-contractors.



Balfour Beatty hopes the acquisition will provide opportunities for growth in wider geographic markets with RT Dooley’s existing customers. RT Dooley’s management will remain in their current roles.