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Balfour Beatty buys US energy business

3 Jan 13 Balfour Beatty has acquired Subsurface Group to expand Parsons Brinckerhoff’s energy storage services business in the USA.

Parsons Brinckerhoff already works on underground storage caverns.
Parsons Brinckerhoff already works on underground storage caverns.

Subsurface is a consulting and engineering firm that provides services in fields including underground injection, underground storage, petroleum and natural resources and environmental science. The 37-person business is forecast to generate approximately US$50m (拢31m) of revenue in 2012.

One of Parsons Brinckerhoff's specialist fields of operation is in the design and construction of underground salt caverns for the storage of hydrocarbons.

Balfour Beatty chief executive Ian Tyler said: 鈥淪ubsurface Group鈥檚 recognised expertise in underground injection and specialty wells and Parsons Brinckerhoff鈥檚 skills and services in underground storage create synergies for us and for the oil and gas, energy and industrial clients both companies serve. We are very pleased to have Subsurface as part of Parsons Brinckerhoff and see this acquisition as a significant step in enhancing our wider capabilities in power and energy - a strategic growth area for Balfour Beatty.鈥

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