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Hill International Acquires John Shreeves
Publish Date : 1/8/2008 6:47:00 AM   Source : IT and Management News Onlypunjab.com

Hill International (Nasdaq:HINT), the worldwide construction consulting firm, announced today that it has acquired John Shreeves Holdings Ltd. and its operating subsidiary John Shreeves & Partners Ltd. (collectively “Shreeves”), a London-based firm that provides project management and cost consultancy services on private- and public-sector projects throughout the United Kingdom. Terms of the transaction were not disclosed.

Shreeves’ clients include some of the largest tenants, developers and public entities in the United Kingdom, including Westfield Shopping Towns, Hermes Property Asset Management, Delancey Estates, Land Securities, Grafton Property Advisors, F&C Property Asset Management, Bank of Scotland, Reckitt Benckiser, Woolworths, KPMG, the Royal Borough of Kensington and Chelsea, the Abbey School Reading and the College of North West London.

The acquired business will continue to operate under the Shreeves brand name until its operations have been consolidated with Hill’s. For its last fiscal year, ended April 30, 2007, Shreeves had revenues of approximately £2.4 million ($4.9 million).

“We are very excited about the acquisition of Shreeves, which gives us a well-respected project management practice in the key UK market,” said Irvin E. Richter, Hill’s Chairman and Chief Executive Officer. “Shreeves has an excellent group of highly-regarded construction professionals, and we believe that they will be a great addition to the Hill team,” Richter added.

“I am excited by the combination of Hill International and Shreeves which results in an experienced force with strength in depth that has the ability to address all management and cost control issues of major projects,” said John W. Shreeves, Chairman and founder of Shreeves.

In connection with this transaction, Shreeves was advised by the law firm of Rosling King. Hill was advised by financial advisor PricewaterhouseCoopers LLP and the law firm of Clifford Chance LLP.

Shreeves provides project management, cost consultancy, building surveying and planning supervision services on private- and public-sector developments throughout the United Kingdom. Shreeves is involved on a wide range of projects including offices, shopping centers, residential schemes, fit-out works, business parks, educational buildings and leisure facilities. For more information on Shreeves, please visit their website at www.shreeves.co.uk.

Hill International, together with Shreeves, has 1,600 employees in 70 offices providing program management, project management, construction management, and construction claims services worldwide. Engineering News-Record magazine recently ranked Hill as the 10th largest construction management firm in the United States. For more information on Hill, please visit our website at www.hillintl.com.

This press release includes certain statements that fall within the definition of “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties, overall economic and market conditions, competitors’ and clients’ actions, and other conditions, which could cause actual results to differ materially from those anticipated, including those risks identified in Hill’s filings with the Securities and Exchange Commission. Accordingly, such statements should be considered in light of these risks. Any prediction by Hill is only a statement of management’s belief at the time the prediction is made. There can be no assurance that any prediction once made will continue thereafter to reflect management’s belief, and Hill does not undertake to update publicly its predictions, whether as a result of new information, future events or otherwise. All currency conversions shown above were made using the exchange rate in effect as of the date of this press release.



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