Global Infrastructure Solutions Inc. (GISI) has announced an agreement to acquire 100% stake in Hill International.
According to agreement terms, GISI will commence an all-cash tender offer to acquire 100% of the issued and outstanding shares of Hill for US$2.85 in cash per share. After the completion of tendered share acquisition GISI will acquire all remaining shares not tendered in the tender offer through a second-step merger at the same price. The transaction is valued at US$173 million.
Headquartered in Philadelphia, Pennsylvania, USA, Hill International employs more than 3,200 professionals in over 100 offices worldwide. The company provides program management, project management, construction management, project management oversight, construction claims, dispute resolution, advisory, facilities management and other consulting services to clients in a variety of market sectors.
Houlihan Lokey acted as financial adviser and Duane Morris LLP acted as legal consultant to Hill International. UBS Investment Bank acted as financial adviser and Cooley LLP acted as legal consultant to GISI.
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