CDI Acquires L.Robert Kimball & Associates & Associates
CDI Acquires L.Robert Kimball & Associates
CDI Corp has announced that it has acquired the business of L. Robert Kimball & Associates, Inc. (L.R. Kimball), a 550-person professional services firm which provides architecture, civil and environmental engineering, communication technology and consulting services. Financial terms of the cash transaction were not disclosed. The acquisition is expected to be accretive to earnings beginning in the third quarter 2010.
Founded in 1953 and headquartered in Ebensburg, PA, L.R. Kimball provides fully-integrated project design and planning for clients throughout the US through a network of nine offices primarily in the Mid-Atlantic region. This acquisition establishes CDI's presence in the architecture and engineering (A&E) infrastructure marketplace and enables the company to provide professional services for aviation, civil, correctional, educational, environmental, judicial, public safety and transportation projects for federal, state and local government agencies as well as private industry organizations. In 2010, L.R. Kimball was ranked #155 on the Engineering News-Record annual "Top 500 Design Firms" list.
Effective immediately, L.R. Kimball becomes part of the CDI Engineering Solutions division. L.R. Kimball's headquarters location will remain in Ebensburg. "This is an important step in our strategic plan to utilize acquisitions to expand into the infrastructure vertical, provide more higher value, higher gross margin services and to create a balanced portfolio of engineering services," said Roger H. Ballou, President and Chief Executive Officer of CDI. "We were attracted by L.R. Kimball's exceptional project management skills, its enduring long-term client relationships and its culture that understands the value of discipline, integrity and professionalism."
"This transaction represents an opportunity to accelerate our growth," added L.R. Kimball Founder & Chairman L. Robert Kimball. "We wanted to align our capabilities with a firm that could both leverage our A&E strengths across a new base of clients and offer our current clients additional services and technology on a national and global services delivery platform." Continuing his role as President of L.R. Kimball, and serving as a new Senior Vice President of CDI Engineering Solutions, Jeff Kimball also noted that, "This represents an exciting opportunity for our employees to take the L.R. Kimball reputation to the next level as we meet our clients' needs."
"We are pleased to have the L.R. Kimball team as part of the Engineering Solutions family," said Robert Giorgio, President of CDI Engineering Solutions. "The L.R. Kimball brand and its innovative practices will form the nucleus of our new CDI-Infrastructure vertical."