MWH Constructors Announces Acquisition by Oaktree in Partnership with Management
November 6, 2018
BROOMFIELD, Colo.–(BUSINESS WIRE)–MWH Constructors (“MWH” or the “Company”), a leading global construction
firm focused on water and energy, announced today that is has been
acquired by funds managed by Oaktree Capital Management, L.P.
(“Oaktree”) in partnership with MWH’s management. The acquisition
encompasses all MWH operations in North America and the United Kingdom,
including global engineering, procurement, construction operations, and
construction management services.
With a history dating back to 1820, MWH employs over 2,200 across its
divisions, including Slayden Constructors, Inc. and MWH Treatment in the
United States and United Kingdom, respectively. MWH provides world-class
turnkey construction, construction management services, and design-build
solutions for owners of water and wastewater infrastructure. The Company
is a global leader in the implementation of thermal hydrolysis process
projects.
“This is an exciting development for MWH Constructors and our very
talented and dedicated employees around the globe,” said Blair Lavoie,
Chief Executive Officer and President of MWH. “We have worked hard to
grow a world-class portfolio of water and wastewater infrastructure
projects, and our partnership with Oaktree will enable us to further
improve and expand our services to our customers. With the additional
resources of this new partnership, our future is bright.”
Jimmy Lee, Senior Vice President at Oaktree, commented, “We are thrilled
to have partnered with MWH Constructors and its talented management
team. MWH is recognized as a global leader in developing and executing
some of the most technically advanced project delivery solutions for
water and wastewater infrastructure construction. Together with
management, we are committed to expanding MWH’s talent, resources, and
capabilities to continue to support the global infrastructure needs of
the Company’s customers.”
MWH Constructors was internationally ranked as the No. 1 contractor in
wastewater treatment and the No. 3 contractor in sewer and waste by Engineering
News-Record in 2017. Current large-scale project work in the United
States includes a $939 million wastewater project with the San Francisco
Public Utilities Commission, a $196 million contract with the Trinity
River Authority of Texas, a $135 million project for a new wastewater
treatment facility with the City of Logan, Utah, and a $100 million
replacement project with Denver Water. Additionally, MWH Constructors
worked with the City of Austin on a $379 million water treatment plant
and pump station project, the City of Cape Coral on its $872 million
expansion projects, and Severn Trent Water on its Minworth Thermal
Hydrolysis Plant project.
About MWH Constructors
MWH Constructors is a global project delivery company with a focus on
water and energy. With the ultimate goal of delivering maximum value to
clients and their local communities, MWH Constructors provides
single-source, integrated design and construction services and a full
range of project delivery methods. Incorporating industry-leading
preconstruction services and safety practices, the Company’s
multi-disciplined team of engineering and construction professionals
delivers a wide range of projects, including new facilities,
infrastructure improvement and expansion, and capital construction
services. For more information, visit www.mwhconstructors.com
or connect on Twitter @MWHConstructors and Facebook www.facebook.com/MWHConstructors/.
About Oaktree
Oaktree is a leader among global investment managers specializing in
alternative investments, with $124 billion in assets under management as
of September 30, 2018. The firm emphasizes an opportunistic,
value-oriented and risk-controlled approach to investments in credit,
private equity, real assets, and listed equities. The firm has over 900
employees and offices in 18 cities worldwide. For additional
information, please visit Oaktree’s website at http://www.oaktreecapital.com/.
Contacts
Media Contact:
For MWH Constructors
Diane Jones, (303)
533-1955