Irvine-based engineering firm RBF Consulting is in line to become the basis of a new business line for Michael Baker Corp., a publicly traded engineering firm in Moon Township, Penn.
Baker recently paid $50 million for RBF, including $45.7 million in cash and $4.3 million in stock.
RBF is the sixth-largest engineering company based in Orange County, based on local billings, with about $43.8 million, according to this year’s Business Journal list. The company had about $102 million in total billings, according to the list.
RBF provides planning, design and construction services as well as consulting.
· Headquarters: Moon Township, Pa. <br >· Business: engineering<br >· Founded: 1940 <br >· Ticker symbol: BKR (Amex) <br >· Market value: about $190 million <br >· Notable: paid $50 million for RBF Consulting in Irvine
It has 540 employees across 17 offices in California, Nevada and Arizona. About 260 of its employees are in Orange County, including 92 licensed engineers.
RBF has been in business for 67 years, and its experience on water projects “provides a platform for Baker to build a national water and wastewater practice,” Baker said.
RBF also gives Baker a regional presence in the transportation, civil and environmental infrastructure markets in the Western region.
The acquisition “greatly expands Baker’s presence in that region of the country, which is a key objective of our growth strategy,” Baker’s Chief Executive Brad Mallory said.
“We are excited about our future as a company of Michael Baker Corp.,” RBF Co-Chief Executive Jim McDonald said.
Initial indicators pointed to McDonald and Co-Chief Executive Bob Kallenbaugh remaining in charge of RBF’s operations. Baker’s website featured the RBF name as a “Baker company” shortly after the deal was announced.
Baker’s shares rose about 15%, to a market value of about $190 million, on word of the deal.
The acquisition will bring Baker’s employee count to 3,250 throughout 110 offices nationwide.
