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TRANSACTIONS GISI AND HILL
INTERNATIONAL
client services, thanks to GISI’s focus on long-term success.” Newman added: “Hill’s uniqueness as a for-fee-only program management firm, combined with its technical and managerial expertise, makes the company a welcome addition to the GISI family. We’re excited to bring aboard Raouf and the entire Hill team.” Initially approved by GISI and Hill boards of directors on August 16, 2022, merger terms were later amended to US$3.40 per share from US$2.85 after receipt of an unsolicited third-party proposal. Hill shareholders representing approximately 72.9 percent of outstanding common shares approved the combination on November 2. Hill International will continue to serve its customers under the Hill International brand as part of GISI’s Engineering & Consulting Services platform, along with sister companies The LiRo Group, GEI Consultants, J. Roger Preston Limited, and Asia Infrastructure Solutions. GISI is among the largest privately owned construction management companies in the commercial building, industrial and healthcare markets, and a leading
project/construction manager in the environmental and public infrastructure sectors. The Company provides the resources its partner firms may require to gain the competitive advantage for success. Through the dedicated efforts of our more than 12,500 employees, we generate annual revenues of approximately US$12 billion, with project backlog of more than US$23 billion. GISI’s employee shareholders are invested in contributing to, and benefitting from, the firm’s continued growth as GISI brings its unique value proposition to its clients and communities in more than 90 countries. Hill International, Inc. with more than 3,200 professionals in more than 100 offices worldwide, 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. Engineering News-Record magazine recently ranked Hill as one of the largest construction management firms in the United States.
COMPLETE MERGER Global Infrastructure Solutions Inc. and Hill International, Inc. announced their strategic merger is complete after clearing final regulatory reviews. This merger presents enhanced opportunities for growth in global, for-fee infrastructure consulting markets. STRATEGIC “The completion of our merger with Hill International is GISI’s fifth strategic merger or acquisition during 2022,” said Rick Newman, GISI President and CEO. “Our employee-ownership model differentiates us and is an important feature of our growth, recruitment, and professional development initiatives. As a result, we believe that the GISI family of companies is well positioned to serve the needs of an expanding market requiring more technical and professional expertise than ever before.” Hill International CEO Raouf Ghali said: “Since our founding in 1976, Hill has grown into an industry-leading program, project, and construction management company. By joining the GISI family of companies, Hill is ready to continue to grow while enhancing the quality of our
in the design and construction process provides opportunities to reduce environmental impact – as long as sustainability is considered from the outset. At OAC, sustainability is one of our priorities. Carbon benchmarking, committing to the climate pledge, embracing technologies that create greater and greater efficiencies – these are just some of our areas of focus. We also have a sustainability task force that is made up of people who are passionate about staying up to date on advancements that reduce environmental impact. This task force is available as a resource to all our project teams and clients. We’re doing all this because we think it’s the right thing to do, but also because it’s smart business for clients. Every owner and developer wants to create buildings that last. Collectively, we all need to work toward ensuring those buildings have a planet that also lasts. The more we and our clients look for ways to help reduce the environmental impact of our projects, the better off we all are. Evan Ponto is a project manager, Joshua Cloud is a program manager, and Alana Schutt is a senior project manager at OAC, a national design and construction performance management firm. To learn more about them, visit oacsvcs.com.
PONTO, CLOUD & SCHUTT, from page 9
Additionally, experienced management teams can find ways to make project delivery much more efficient, and that efficiency leads to positive outcomes when it comes to environmental impact. “How do you ensure sustainability benchmarks will be met while still keeping the overall project goals in mind? The key is having a team in place, throughout a project, that has a rich background in sustainability coupled with strong project management skills.” Technologies that make designs as precise as possible before a build begins, for example, greatly reduce the time – and carbon expenditure – of breaking ground on a project. Similarly, utilizing data to source and track resources efficiently dramatically cuts down on waste. WALKING THE TALK. The point is, sustainability is about much more than reducing water and energy usage. Every step made
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THE ZWEIG LETTER JANUARY 23, 2023, ISSUE 1473
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