(Reuters) – Jacobs Engineering said on Monday it would acquire a 65% stake in PA Consulting, estimating the management consultancy firm at an enterprise value of 1.83 billion euros ($2.4 billion).
The remaining 35% stake will be held by PA employees, following the exit of existing majority stakeholder, The Carlyle Group, the U.S. engineering and construction services provider said in a statement.
Jacobs expects to add more than 52 cents to its adjusted earnings per share in fiscal year 2022, post deal.
Jacobs will also provide debt financing to PA through a 650 million euros term loan and a revolving credit facility of up to 100 million euros. It intends to fund the acquisition through a combination of cash-on-hand and existing and incremental debt facilities.
(Reporting by Shreyasee Raj; Editing by Shailesh Kuber)
