07:22 AM EDT, 10/21/2024 (MT Newswires) -- Parsons (PSN) said Monday it has agreed to acquire BCC Engineering, a transportation engineering firm, in an all-cash deal valued at $230 million.

The company said the acquisition strengthens its position in infrastructure and expands its presence in the Southeastern US, where the Infrastructure Investment and Jobs Act has allocated around $100 billion for highways from 2022 to 2026.

For 2025, BCC is projected to generate about $110 million in gross revenue and be accretive to Parsons' revenue growth and adjusted earnings before interest, taxes, depreciation and amortization margins.

The deal is expected to close within the next 30 days and integrate BCC into Parsons' North America Infrastructure business unit.

Price: 108.00, Change: +0.02, Percent Change: +0.02