A new force in the global consulting arena - PA Consulting Group completes acquisition of Hagler Bailly

PA Consulting Group, the leading integrated management, systems and technology consulting firm, announced today that it has completed the acquisition of the outstanding shares of common stock of Hagler Bailly, Inc (NASDAQ:HBIX), following Hagler Bailly shareholder approval of the transaction valued at US$96 million, equivalent to US$5.32 per share. Hagler Bailly is a major international management and economic consulting firm with a significant US presence and renowned capabilities in the energy, transport and network industries, and also environmental and litigation support consulting.

The combined organisation now operates under the PA Consulting Group brand name worldwide and has a global presence of around 3,400 staff, with 700 in North and Latin America, 2,400 in Europe, and some 300 in the Asia Pacific region.

Jeremy Asher, PA’s Group Chief Executive, said:

"This is a major landmark in PA’s corporate development and a significant step in our global growth strategy, particularly in the US where we have been doubling the size of our business each year for some time now. The acquisition not only enhances our service capability – making PA a leading force in the energy and transportation industries – it also strengthens our public sector consulting expertise and brings a noteworthy capability in environmental consulting. Combining forces under the PA name will build on the market reputation of both companies for working with clients from insight to implementation – delivering unique industry insights and end-to-end solutions."

According to PA, in the new corporate structure, former Hagler Bailly management will head four of the company’s combined global practices. Roger Gale will head the firm’s combined Energy practice, Ken Rubin will head the new Infrastructure & Development Services practice, James Miller will head the Transport practice and John Butler will head the Environmental Consulting practice.

PA’s Executive Chairman, Jon Moynihan, added:

"Our ambition is to be the best strategy-to-implementation consulting firm in the world. The acquisition of Hagler Bailly is testament of our resolve to realise this ambition and it’s only the start of an exciting growth phase for PA Consulting Group over the next few years. This acquisition is good news for PA, our people and most importantly our clients."